Deutsche Bank Q4 profit down less than feared; announces buybacks, dividends By Reuters

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<span>© Reuters. The headquarters of Germany&#8217;s Deutsche Bank are pictured in Frankfurt, Germany, September 21, 2020. REUTERS/Ralph Orlowski</span><br />
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<p>FRANKFURT (Reuters) &#8211; Deutsche Bank on Thursday posted a 30% drop in fourth-quarter profit as restructuring costs and other one-off expenses outweighed revenue gains, but the fall was not as steep as analysts feared.</p>
<p>The bank also announced plans for 1.6 billion euros ($1.73 billion) in share buybacks and dividends, and it raised its outlook for revenue growth.</p>
<p>Net profit attributable to shareholders was 1.26 billion euros in the quarter. That compares with profit of 1.803 billion euros a year earlier, and it is better than analyst expectations for profit of around 700 million euros.</p>
<p>Full-year profit fell to 4.21 billion euros from 5.03 billion euros a year earlier, beating analyst expectations for 3.664 billion. </p>
<p>The drop in quarterly profit was the largest since earnings at Germany&#8217;s largest bank stabilized earlier in the decade after years of losses.</p>
<p>But the figures nevertheless mark the 14th consecutive quarter of profit, and it was the fourth consecutive year of profit &#8211; notable streaks in the black for Deutsche.</p>
<p>($1 = 0.9257 euros) </p>
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<br /><a href="https://www.investing.com/news/stock-market-news/deutsche-bank-q4-profit-down-less-than-feared-announces-buybacks-dividends-3289328">Source link </a></p><p>The post <a href="https://forextraderhub.com/deutsche-bank-q4-profit-down-less-than-feared-announces-buybacks-dividends-by-reuters.html">Deutsche Bank Q4 profit down less than feared; announces buybacks, dividends By Reuters</a> first appeared on <a href="https://forextraderhub.com">Forex Trader Hub</a>.</p>