Deutsche Bank Posts Best Net Profit in 15 Years

Deutsche Bank Posts Best Net Profit in 15 Years

**Deutsche Bank posts record net profits of 5,030 million euros in 2022**

Deutsche Bank, the German banking giant, has announced on Thursday that it has recorded a net profit of 5,030 million euros in 2022, up by 2.6 compared to the previous year. This is the highest profits the bank has obtained since 2007.

The bank’s CEO, Christian Sewing, stated that the success of the bank’s complete transformation in the past three and a half years has been instrumental in bringing about the good job.

Revenue for 2022 rose by 7% touching 27.2 billion euros, largely attributed to the European Central Bank’s decision to raise interest rates due to the inflation.

The charges, excluding the provisions of risks, decreased by 5% as the charges linked to the bank’s restructuring, commenced in 2019, saw a sharp decline.

On a whole, these factors have contributed to the best results since 2007.

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