Deutsche Bank reports first-quarter 2017 net income of € 575 million

Deutsche Bank press release ------ John Cryan, Chief Executive Officer, said: “I am pleased with the start we have made to 2017. Client engagement is strong, asset flows are returning across the bank and activity is picking up. Our cost-cutting efforts are starting to pay off, while we have reduced complexity significantly. We have laid firm foundations upon which Deutsche Bank can once again deliver good results.” Profitability: Pre-tax profit of € 878 million, up 52% year-on-year. Net income of € 575 million, up 143% year-on-year. Revenues: € 7.3 billion, down 9% year-on-year. The decline was predominantly due to a negative swing of € 0.7 billion year-on-year resulting mainly from the development of Deutsche Bank’s credit spreads. Adjusted for this effect, revenues would have been broadly flat year-on-year Provision for credit losses. € 133 million, down 56% year on year, primarily due to improved performance in the metals and mining and oil and gas portfolios. To get more in depth information click on the picture below to read the release.