Deutsche Bank with highest profit in 15 years
Deutsche Bank posted its highest profit in 15 years in 2022. Pre-tax profit increased by 65 percent to around 5.6 billion euros, as Germany’s largest financial institution announced this morning in Frankfurt. The bottom line is that the shareholders of the Dax group accounted for a little more than 5.0 billion euros surplus after 1.9 billion euros a year earlier. The bank also benefited from a positive tax effect in the billions. “The transformation of Deutsche Bank over the past three and a half years has been a success,” said CEO Christian Sewing, who initiated a fundamental reorganization of the group in 2019. Investment banking was cut back and the integration of Postbank into private customer business was pushed ahead. “By focusing on our strengths, we have become significantly more profitable, diversified and efficient,” said Sewing.
