Frankfurt (Germany) (AFP) – Deutsche Bank on Thursday reported record pre-tax profits of 9.7 billion euros ($11.6 billion) in 2025, with all divisions performing well, even as Germany’s biggest lender faces a new money-laundering probe. The figure was up 84 percent from 2024, when earnings were hit by legal costs related to a troubled takeover. Net profit attributable to shareholders was 6.1 billion euros, more than double the figure last year. Revenues rose seven percent to 32.1 billion euros, according to a statement from the bank.
“We delivered on all our 2025 financial goals,” said Deutsche Bank CEO Christian Sewing in a statement. “This gives us the strongest possible foundation for the next phase of our strategy,” he said, adding the bank aimed to become “the European champion.” Profits were up strongly at its main divisions, including its investment banking arm and asset management.
The results came a day after prosecutors and police searched the bank’s headquarters in Frankfurt and its office in Berlin in an investigation over suspected money laundering offences. According to the Sueddeutsche Zeitung daily, the probe is connected to suspected offences in the bank’s dealings with companies linked to Russian billionaire businessman Roman Abramovich. Prosecutors have not confirmed who was being targeted.
The news was a blow to the bank’s efforts in recent years to recover from a series of scandals that had tarnished its reputation. Deutsche Bank has undergone major restructuring, seeking to rely more on retail and corporate banking after an aggressive shift in the early 2000s into investment banking caused numerous problems.
© 2024 AFP
