Deutsche Bank posts exceptional profits announces dividend

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Deutsche Bank posts exceptional profits announces dividend
02 Feb 2022
5 min read

News Synopsis

Deutsche Bank AG's profits climbs steeply in the fourth quarter of the fiscal year, despite its investment business didn’t do as well as expected from it. Chief Executive Officer (CEO) says that he firmly believes that the bank would achieve its target for 2022. Delighted by extremely good results the bank announced to pay its shareholders dividend which was long-awaited by them. Deutsche Bank didn’t pay any dividend since 2019 and this news would certainly prove to bring some relief to them. Compared to the last quarter of 2020 the bank’s profit rose by 67% amounting to 315 million euros. CEO Christian Sewing is certain to about the bank’s growth in the coming months and looks for an 8% return on tangible equity along with a cost-to-income ratio of 70%. With the global economy coming back on track steadily, it is quite possible to achieve these goals.