The bank accounts season continues with another big shot: Deutsche Bank, which closed 2022 with net profits at the highest levels since 2007 and revenues at the top since 2016. On the Frankfurt Stock Exchange, Deutsche Bank shares, however, lost 2,23 % at 11,99 euros per share. Investors expected the announcement of a buyback operation but it did not arrive.
Deutsche Bank 2022 accounts
The German bank has filed 2022 with a Net income of €5,7 billion, more than double the previous year and the best result since 2007. The result includes a positive adjustment to the measurement of year-end deferred tax assets of €1,4 billion, compared with 274 million euros from the previous year.
I revenues they stood at 27,2 billion euros, up 7% compared to 2022. For both the full year and the fourth quarter of 2022, revenues were the highest since 2016, despite reductions in the business perimeter in the scope of the bank's transformation launched in 2019.
Going forward with the data, last year the cost/income ratio it dropped from 85 to 75 percent. The expenses other than interest decreased by 5% to 20,4 billion euros a yearprovision for credit losses it was $1,2 billion, up from $515 million in 2021.
Just in fourth quarter the bank achieved a net profit of 2 billion euros while net revenues rose by 7% to 6,3 billion euros.
“Over the past three and a half years, we have successfully transformed Deutsche Bank,” said the CEO Christian Sewing – By refocusing our business on our core strengths, we have become significantly more profitable, better balanced and more cost-effective. In 2022, we proved it by delivering our best results for fifteen years.”
Deutsche Bank: the dividend rises by 50%
By virtue of the results achieved last year, the board of directors of Deutsche Bank has decided to propose to the next shareholders' meeting the distribution of a dividend equal to 0,30 cents per share, up 50% on the previous year.
“Through the disciplined execution of our strategy, we have been able to support our clients in very challenging conditions, demonstrating our resilience with strong risk discipline and sound capital management. As a result, we are well equipped to deliver sustainable growth and returns for shareholders for years to come,” Sewing explained.
In relation to the no buyback announcement, CFO James von Moltke explained to CNBC. “Regarding the share buyback operations, given the uncertainty of the context we are living in and some regulatory changes we would like to see, both in terms of timing and intensity, for now we are holding back from launching it. We believe it is a prudent decision, but intend to reconsider."
