https://sputnikglobe.com/20240724/germanys-top-bank-deutsche-bank-reports-significant-profit-fall-in-first-half-of-2024-1119483539.html
Germany's Top Bank Deutsche Bank Reports Significant Profit Fall in First Half of 2024
Germany's Top Bank Deutsche Bank Reports Significant Profit Fall in First Half of 2024
Sputnik International
German lender Deutsche Bank saw its net profit shrink in the first half of 2024 by 33.5% to 1.503 billion euros ($1.630 billion) year-on-year, the financial report out Wednesday showed.
2024-07-24T09:48+0000
2024-07-24T09:48+0000
2024-07-24T09:48+0000
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The bank's diluted net income per share decreased to 0.42 euros from 0.81 euros year-on-year from January to June, while net revenues were up 2% to 15.368 billion euros. Net profit fell 18-fold in the second quarter to 52 million euros year-on-year. Diluted loss per share stood at 0.28 euros against 0.19 euros over the same period in 2023. The bank's revenue in the second quarter increased by almost 2% to 7.589 billion euros. "In the first half year our underlying profitability was the highest since 2011, which demonstrates the success of our strategic execution. We have built powerful momentum in our client franchise across all our businesses – and this, together with our very solid capital ratio and continued cost and risk discipline, keeps us well on track towards meeting our 2025 goals," Deutsche Bank CEO Christian Sewing said. Deutsche Bank is Germany's largest bank by assets. It was established in 1870 and employed over 90,000 people as of 2023.
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Germany's Top Bank Deutsche Bank Reports Significant Profit Fall in First Half of 2024
MOSCOW (Sputnik) - German lender Deutsche Bank saw its net profit shrink in the first half of 2024 by 33.5% to 1.503 billion euros ($1.630 billion) year-on-year, the financial report out Wednesday showed.
The bank's diluted net income per share decreased to 0.42 euros from 0.81 euros year-on-year from January to June, while net revenues were up 2% to 15.368 billion euros.
Net profit fell 18-fold in the second quarter to 52 million euros year-on-year. Diluted loss per share stood at 0.28 euros against 0.19 euros over the same period in 2023. The bank's revenue in the second quarter increased by almost 2% to 7.589 billion euros.
"In the first half year our underlying profitability was the highest since 2011, which demonstrates the success of our strategic execution. We have built powerful momentum in our client franchise across all our businesses – and this, together with our very solid capital ratio and continued cost and risk discipline, keeps us well on track towards meeting our 2025 goals," Deutsche Bank CEO Christian Sewing said.
Deutsche Bank is Germany's largest bank by assets. It was established in 1870 and employed over 90,000 people as of 2023.
