Deutsche Bank eked out a small annual profit in 2020, its first since 2014, saying on Thursday it had made strong gains at its investment banking division.
Over the past 10 years, Deutsche has lost a total 8.2 billion euros ($9.8 billion) and the return to profit marks an important milestone for Chief Executive Christian Sewing as analysts had been predicting another loss in 2020.
“We have built firm foundations for sustainable profitability and are confident that this overall positive trend will continue in 2021, despite these challenging times,” he said in a statement detailing the results.
-REUTERS