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Frankfurt / Main (dpa) - After the first annual profit since 2014, Deutsche Bank is also optimistic for the current year.
"We have shown that we can grow: We have increased our earnings significantly in 2020 and are confident that a significant part of this growth will prove to be sustainable," said CEO Christian Sewing according to the speech when the balance sheet was presented in Frankfurt on Thursday.
"A really very good start to the new year has completely strengthened our confidence in our business."
Germany's largest financial institution owes its good performance last year primarily to the capital market business, which in the past had repeatedly led to excesses and, as a result, expensive legal disputes.
Sewing has reorganized the area.
The CEO emphasized: “Our capital market business is not about securities trading as an end in itself.
It's about supporting our customers, above all companies, institutions and countries. "
The success of the Investment Bank 2020 is based “in large part on the fact that we have focused on our strengths in the capital market business, that is, the business with fixed-income securities and currencies as well as the issuing and advisory business,” Sewing explained.
Even if the markets should normalize a little, the Board of Management expects the investment bank to generate revenue of 8.5 billion euros in 2022.
In the past year, the income - i.e. the total income - in the investment bank climbed by a third to around 9.3 billion euros within a year.
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