A sign for Deutsche Bank AG at a bank branch in the financial district of Frankfurt, Germany, on Thursday, Feb. 2, 2023.
Bloomberg | Bloomberg | Getty Images
Germany’s largest lender Deutsche Bank on Tuesday posted higher-than-expected first-quarter profit as lenders in Europe’s largest economy navigate broader market turbulence instigated by U.S. tariff policies.
Net profit attributable to shareholders reached 1.775 billion euros ($2.019 billion) in the first quarter, up 39% year-on-year and above analyst expectations of around 1.64 billion euros, according to a Reuters poll. The bank reported profit of 106 million euros for the December quarter.
Revenues reached 8.524 billion euros over the period, up 10% year-on-year and above a $7.224-billion-euro result in the fourth quarter.
