Deutsche Bank has reported net profits of €5 billion ($6.92
billion) for fiscal 2009, compared with a net loss of €3.9 billion
the previous year, and has had a “promising start” to 2010, said
CEO Josef Ackermann.
Net revenues within the bank’s private and
business clients unit were down 3 percent versus 2008 at €5.6
billion; total retail and private client customer numbers remained
flat at 14.6 million.
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For the full year, the provision for credit
losses within the private and business clients division rose 21
percent to €790 million, reflecting the continued deterioration of
the credit environment in Spain and Poland.
In a statement, Ackermann said: “Deutsche Bank
achieved a great deal in 2009. We delivered substantial
profitability, while simultaneously reducing risk and balance sheet
leverage. We used these good results to bolster our capital base,
and our capital ratios are stronger than ever.”.
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