Deutsche Bank has posted a net income of 2.3bn ($3.1bn) for fiscal 2010, a decline of 53% from the previous year.
But the acquisition of German lender Postbankboosted Deutsche Banks private and business clients business, where pre-tax income soared 94.3% to 890m.
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The Postbank-acquisition also boosted full year revenues in the private and business client segment to 6.1bn, up 10% versus 2009.
Since consolidating Postbank at the beginning of December 2010, Deutsche Banks branch network increased by 117% to 2,087 units in its home market.
The bank ended fiscal 2010 with 28.8m private and business clients, of which 14.2m had previously been Postbank customers.
Other highlights of fiscal 2010 included:
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By GlobalData- The bank had total assets of 1.9tr as of 31 December, up by 27% from a year ago;
- The cost-to-income ratio increased by 9.6 percentage points year on year to 81.6%;
- Provisions for credit losses for the whole group fell 52% to 1.3bn from a year ago;
- In the banks private and business client business, provisions for credit losses fell 6% compared to 2009 to 746m.
Josef Ackermann, Deutsche Banks chairman, said:
"2010 has been a year of investment and change for Deutsche Bank. In the process, while again demonstrating the earnings strength of our core businesses, we greatly improved our global market position and are eminently well placed for further
