Deutsche Bank Reports Its Best Quarterly Earnings Since 2014

Deutsche Bank announced a profit of 908 million euros, equivalent to about $ 1.1 billion in Q1, supported by continued strong performance in the investment banking sector.

The bank largely exceeded analysts’ forecasts for a net income of 642.95 million euros, according to Refinitiv, and showed a marked improvement from the 51 million euros in the fourth quarter of 2020.

Germany’s largest bank followed in the footsteps of many of its Wall Street rivals in the big profit, with Goldman Sachs, JP Morgan and Morgan Stanley smashing first-quarter forecasts in recent weeks.

The investment bank’s revenue came in at 3.1 billion euros, up 32% year-on-year, while profits before tax rose 134% to 1.5 billion euros.