Banks – Frankfurt am Main – Deutsche Bank presents its balance sheet: Black numbers in the crisis? – Economy

Frankfurt / Main (dpa) – The Deutsche Bank executive board had a pre-tax profit for 2020 in its sights. Now it could even have been enough for Germany’s largest financial institution in the Corona crisis for the bottom line for black numbers. After five consecutive years of losses, it would be the first profit in a full year for the Dax Group. The Frankfurt Institute will present its results for 2020 this Thursday (7 a.m.).

Analysts assume on average that for the full year 2020 before taxes there will be a plus of a good 800 million euros in the books of Deutsche Bank. After taxes, it could be 245 million euros. However, among other things, interest payments to the holders of certain bonds must be deducted from this, so that the bank’s shareholders would earn a profit of 84 million euros.

In the previous year, the restructuring of the group initiated in summer 2019, which among other things involves cutting thousands of jobs, tore deep holes in the balance sheet. The bottom line was a minus of 5.7 billion euros. CEO Christian Sewing has, among other things, trimmed the long-loss-making business of the investment bank.

And management is still on the brakes on costs: The network of its own branches in Germany is to be reduced by a good 100 locations to 400, and after positive experiences with home offices and video conferences in the pandemic, Deutsche Bank wants to save on offices and travel.

© dpa-infocom, dpa: 210203-99-289613 / 2

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