Deutsche Bank ekes out profit, refocuses investment bank
Updated : April 26, 2018 12:54 PM IST
The first-quarter result fell short of analyst expectations for 374 million euros profit and was sharply down from 575 million euros in the same quarter a year ago.
That was nonetheless an improvement from a 2.4 billion loss in the last quarter of 2017, when the company had a large one-time loss related to tax changes in the US First-quarter revenues fell 5% to 6.98 billion euros ($8.5 million).
Germany's largest bank replaced CEO John Cryan April 9 after three straight full-year losses and slow progress in cutting costs and streamlining the bank's operations.