LONDON — Deutsche Bank on Thursday defied market expectations to post a 145 million euro ($162.7 million) profit for the fourth quarter of 2021, as investment bank revenues rose.
Analysts had expected a quarterly loss of 127.58 million euros, according to Refinitiv estimates.
The quarterly figures took full-year net profit for 2021 to 1.94 billion euros after a strong first half to the year. This was up from 113 million euros in 2020 and above analyst projections of 1.79 billion euros.
However, the German lender’s investment bank saw quarterly revenues climb to 1.9 billion euros, up 1% year-on-year, as a 14% fall in fixed income and currency (FIC) trading was offset by 29% growth in origination and advisory revenues.
This is a breaking news story and will be updated shortly.