Deutsche Bank (NYSE: DB) reported a net profit for 2020. Obviously it’s expected that bank will post yearly profit, but for Deutsche Bank it’s a first profitable year since 2014. Revenue growth and disillusioned transformation execution resulted in €624 million profit after tax (profit before tax €1B) VS a loss of €5.3B after tax in 2019.
Key financial results:
- Net revenue €24B.
- Provision for credit losses €1.792B.
- Total non interest expenses €21B.
- Profit before tax €1B.
- Profit after tax €624M.
Despite profitability share price fell a few percent. Deutsche Bank used to have 15x market capitalisation than it’s now.
For Deutsche Bank 2020 was a successful year and now we can expect strong growth.