Deutsche Bank Q4 Profit Down Less than Feared; Announces Buybacks, Dividends

Deutsche Bank on Thursday posted a 30% drop in final quarter benefit as rebuilding costs and other oddball costs offset income gains, however the fall was not generally so steep as examiners dreaded.

In addition, the bank raised its revenue growth outlook and announced plans for share buybacks and dividends totaling 1.6 billion euros (US$1.73 billion).

The quarter’s net profit attributable to shareholders was 1.26 billion euros. That contrasts with a benefit of 1.803 billion euros a year sooner, and it is superior to examiner assumptions for a benefit of around 700 million euros.

The full-year profit, which beat analyst expectations of 3.664 billion, was 4.21 billion euros, down from 5.03 billion euros the previous year.

The drop in quarterly benefit was the biggest since profit at Germany’s biggest bank settled before in the 10 consistently of misfortunes.

However, the numbers nonetheless represent Deutsche’s 14th consecutive profit quarter and its 4th consecutive profit year. These are notable periods of profitability for Deutsche.