LONDON — Deutsche Bank on Wednesday reported a 908 million euro ($1.1 billion) profit for the first quarter, buoyed by continued strong performance in its investment banking division.
The bank vastly exceeded analyst expectations for net income of 642.95 million euros, according to Refinitiv, and showed a marked improvement from the 51 million euro profit eked out in the fourth quarter of 2020.
Here are the other highlights:
- Total first-quarter net revenues were 7.2 billion euros, compared to 6.35 billion euros for the same period in 2020.
- Common equity tier 1 (CET1) ratio — a measure of bank solvency — came in at 13.7%, compared to 12.8% for the first quarter of 2020.