The FINANCIAL — Deutsche Bank reported results for the full year 2014 as well as 4Q2014. Group net revenues of EUR 7.8 billion, up 19% from the prior year, with noninterest expenses 5% lower at EUR 7.2 billion. Income before income taxes was EUR 253 million in 4Q2014, compared to a loss of EUR 1,768 million in 4Q2013. This reflects the solid revenue development in the Core Bank as well as lower litigation costs, according to Deutsche Bank AG.
“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.
“In the fourth quarter of 2014, we reported a pre-tax profit of EUR 253 million versus a loss of EUR 1.8 billion a year ago and net income of EUR 441 million versus a loss of EUR 1.4 billion a year ago. 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.
“While we are encouraged by many of our full-year and fourth-quarter business results, we are working hard to further manage our cost base, maintain our capital strength and increase our returns to shareholders. We look forward to updating the market, and all of our stakeholders, on the next phase of our strategy in the second quarter,” Jürgen Fitschen and Anshu Jain, Co-Chief Executive Officers of Deutsche Bank, said.
Discussion about this post