Deutsche Bank announced the highest earnings after taxes in 2013 in the first quarter, despite the increase in bank contributions.
The German bank announced that the profit after taxes increased to 1.23 billion Euros from 1.04 billion Euros a year ago, while the profits for the shareholders amounted to 1.06 billion Euros against 908 million Euros. Euro in the previous year.
Analysts expected a profit of 1.12 billion euros after taxes. In the quarter, deutsche Bank recognized a 28% increase in annual bank contributions, to 730 million euros.
Provisions for credit losses amounted to 292 million Euros from 69 million Euros, while quarterly revenues increased to 7.33 billion Euros from 7.23 billion Euros.
Revenues in the investment banking unit increased by 7% on an annual basis in the quarter.
Source: Capital
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