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Frankfurt / Main (dpa) - Despite the Corona crisis in 2020, Deutsche Bank made a profit for the first time in years.
624 million euros were on the balance sheet after taxes, as Germany's largest financial institution announced on Thursday.
The bottom line is 113 million euros for the shareholders of the Frankfurt Dax group.
After five consecutive years of losses, Deutsche Bank closed a full year in the black for the first time, both before and after taxes.
Investment banking was a big profit maker, even though the Management Board had trimmed this division as part of a far-reaching restructuring of the group since summer 2019.
"In the most important year of our restructuring, we succeeded in more than compensating for the transformation costs and the increased risk provisioning - despite the global pandemic," said CEO Christian Sewing.
“With a profit of one billion euros before taxes, we exceeded our own expectations.
We are sustainably profitable and confident that the overall positive trend in 2021 will continue even in these difficult times. "
© dpa-infocom, dpa: 210204-99-295911 / 2
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Deutsche Bank on the 2019 balance sheet
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