Deutsche Bank 2021 Results: Regaining Flexibility
Deutsche Bank (DB or the Bank) reported a full-year 2021 pre-tax profit of EUR 3.4 billion and an after-tax profit of EUR 2.5 billion, up significantly from EUR 1.0 billion and EUR 0.6 billion respectively in the previous year. The improvement was due to a variety of factors such as a positive operating environment for the Investment Bank and Asset Management in particular, the increased benefits from the Bank’s restructuring program, success in deposit repricing and a benign credit environment. The return on average tangible equity (ROATE) was 3.8%, still low but up from 0.2% a year earlier. Given the positive revenue and cost momentum the Bank reconfirmed its 2022 targets including a ROATE of 8% and a cost/income ratio of 70% and announced the resumption of dividend payments and share repurchases.Deutsche Bank is a holding company acting as an international financial service provider. Co. offers a wide variety of investment, financial and related products and services to private individuals, corporate entities and institutional clients around the world. Co. has operations or dealings with existing or potential customers in most countries in the world. Co. is organized into the following six corporate divisions: Global Markets (GM); Corporate & Investment Banking (CIB); Private, Wealth & Commercial Clients (PW&CC); Deutsche Asset Management (Deutsche AM); Postbank (PB); and Non-core Operations Unit (NCOU).
Deutsche Telekom is engaged in the telecommunications services and information technology sectors. Co. operates as an integrated telecommunications provider. It is organized into four operating segments: Germany, Europe, and the United States; and Systems Solutions, as well as Group Headquarters and Shared Services. Co. provides fixed-network lines, broadband lines and mobile communications. Co. also provides customized Information and Communication Technology (ICT) solutions for corporate customers under the T-Systems brand. The Group Headquarters and Shared Services segment comprises cross-segment management functions, real estate services, and mobility solutions, among others.
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