(Deutsche Bank) Deutsche Bank posted a profit of 315 million euros in the fourth quarter of 2021, up 67% from the prior year, to help the company post the best earnings year since 2011.
The more than a decade yearly net income of 2.51 billion euros in 2021 was derived from annual revenues of 25.41 billion euros, a jump of 6% from the prior year. Revenue in the fourth quarter was 5.9 billion euros, up from 5.45 billion euros in the prior year.
Profits attributable to shareholders were recorded at 145 million euros in the fourth quarter and 1.94 billion euros for the full year.
The investment bank division posted revenues of 1.9 billion euros in the quarter, an increase of 1% from the prior year.
The bank’s loan loss provision increased to 254 million euros in the fourth quarter, from 251 million euros in the prior year.
Deutsche Bank CEO Christian Sewing said all of the company’s four core businesses met or exceeded expectations, while the reduction of its legacy assets progressed ahead of time.
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