There’s nothing like a bank turnaround plan that actually turns a bank around.
In 2019, Deutsche Bank posted a loss of €5.7 billion ($6.08 billion), taking into account payments for additional tier-one bonds.
In 2022, the German lender posted net profit of… €5.7 billion. That was a 15-year high that beat analyst predictions by more than €1 billion.
Yes, that number was aided by a €1.4 billion deferred tax revaluation that boosted its post-tax return on average tangible shareholders’ equity to 9.4%.
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