Deutsche Bank AG announced on Thursday that its net revenue in the fourth quarter of the fiscal year 2021 observed an annual rise of 8% to reach €5.9 billion. Its profit advanced by 67% in comparison to the same period the year before to €315 million. On the other hand, its profit before tax declined by 53% over the same period to €82 million.
In the entire 12-month period, the bank's net profit went up more than fourfold to €2.5 billion, its highest level since 2011, while its net revenue increased by 6% year-on-year to €25.4 billion. Its profit before tax surged by 232% to €3.39 billion.
"In 2021, we increased our net profit fourfold and delivered our best result in ten years while putting almost all of our expected transformation costs behind us. All four core businesses performed at or ahead of our plan, and our reduction of legacy assets progressed faster than expected," Deutsche Bank Chief Executive Officer Christian Sewing commented on the results.
