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Deutsche Bank net revenues up 19%

Staff writer |
Deutsche Bank reported results for the full year 2014 as well as Q4 2014. Group net revenues of EUR 7.8 billion, up 19% from the prior year, with noninterest expenses 5% lower at EUR 7.2 billion.

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Income before income taxes was EUR 253 million in Q4 2014, compared to a loss of EUR 1,768 million in Q4 2013. This reflects the solid revenue development in the Core Bank as well as lower litigation costs.

Jürgen Fitschen and Anshu Jain, co-chief executive officers of Deutsche Bank, said: "In 2014 our pre-tax profit rose from EUR 1.5 billion to EUR 3.1 billion, and net income rose from EUR 681 million to EUR 1.7 billion. For the first time ever, each of our four core business divisions delivered more than EUR 1 billion in pre-tax profits."

"Further, we increased net revenues in the fourth quarter by 19% year-on-year from EUR 6.6 billion to EUR 7.8 billion largely reflecting higher revenues in Corporate Banking & Securities, where we gained further market share across Fixed Income and Corporate Finance during the year. Also in the fourth quarter, we surpassed EUR 1 trillion in assets under management in Deutsche Asset & Wealth Management."

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