Deutsche Bank beats Q1 revenue estimates, negotiating share buybacks
Sharecast
Published Apr 27, 2023 11:11
Deutsche Bank beats Q1 revenue estimates, negotiating share buybacks
Sharecast - For the three months ending on 31 December, the lender reported a 4.8% rise in group revenues to €7.68bn, for a 9.2% jump in net income to reach approximately €1.16bn.
However, net interest income, which was up by 19% to €3.42bn, fell short of analysts' estimates.
Revenues from Fixed Income and Currencies also disappointed, registering a 17% decline to €2.36bn.
The corporate bank was a bright spot with revenues surging by 35% to €1.97bn.
Looking ahead, the lender said that it had begun to broach with regulators the possibility of initiating share buybacks in the second half of 2023.
Deutsche also announced raised its full-year target for cost savings to €2.5bn.
As of 1009 BST, shares of Deutsche Bank (ETR:DBKGn) were trading up by 1.14% to €9.76.
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