Deutsche Bank reports annual and Q4 profits

by Richard Kilner

Story link: Deutsche Bank reports annual and Q4 profits

Deutsche Bank has reported its unaudited financial results for the final quarter and full-year 2009.

In 2009 the bank made net income of €5bn, a sharp return to the black after a net loss of €3.9bn was occurred in 2008.

Pre-tax profits were recorded at €5.2bn, more than €10bn better than the pre-tax loss of €5.7bn of 2008.

In Q4, Deutsche Bank made €1.3bn profits, with earnings per share, on a diluted basis, of €2.

In the same quarter of the previous year the firm incurred a net loss of €4.8bn, equating to €8.71 per share.

Profits for the quarter were more or less flat with Q3 2009, when net income of €1.4bn, or €2.1 per diluted share, was recorded.

Chairman Dr. Josef Ackermann has expressed his delight at the results, stating the bank had not only achieved profitable sustainability in 2009, but had also reduced its risk and balance sheet leverage.