FRANKFURT (dpa-AFX) - German banking major Deutsche Bank has achieved a
profit increase at the start of 2024 despite higher provisions for
potential risks, the Frankfurt-based DAX-listed company said on
Thursday.

It reported that its first-quarter profit attributable to
shareholders grew 10% to ?1.28 billion ($1.37 billion) from last
year's ?1.16 billion.

Earnings per share improved to ?0.69 from ?0.61 in the prior year
quarter.

Deutsche Bank reported 10% year-on-year growth in profit before tax
to ?2.04 billion in the first quarter of 2024.

Net revenues grew 1% to ?7.78 billion from last year's ?7.68 billion,
primarily driven by growth of 11% in commissions and fee income.

Net revenues went up 3% overall in the bank's four operating
businesses.

Christian Sewing, chief executive officer, said: 'As promised, we
delivered on our cost target and we are determined to maintain this
discipline. Our strong capital base enables us to increase
distributions to shareholders while supporting business growth. On
all dimensions, we are firmly committed to continued delivery on our
path towards our 2025 goals.'

Further, Deutsche Bank said for its annual general meeting on May 16,
the management and the supervisory boards have proposed the payment
of a cash dividend of ?0.45 per share in respect of the financial
year 2023, up 50% over 2022.


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