Deutsche Bank Records €7.2 Billion Net Revenues in Q1 2021

Deutsche Bank, a leading German financial services provider, has released its financial results for the first quarter of 2021, showing strong growth across all business for the last three months.

According to the official announcement, the profit before tax of the bank for the first quarter of 2021 reached €1.6 billion as as net profit reached €1 billion, the highest quarterly Group profit for seven years. The German company's net revenues jumped by 14 percent to €7.2 billion in Q1 of 2021 compared to Q1 2020.

​Chief Executive Officer of Deutsche Bank, Christian Sewing, said: "Our first quarter is further evidence that Deutsche Bank is on the right path in all four core businesses, and is building sustainable profitability. In addition to substantial revenue growth over an already-strong prior-year quarter, we demonstrated cost and risk discipline. We achieved a post-tax return on tangible equity of above 7%, and returns in the Core Bank are already ahead of our ambition for next year. These results give us confidence that we'll reach our 2022 targets."

​Fazzaco recently reported that Deutsche Bank is reportedly building a global foreign exchange pricing engine for emerging markets in Singapore to replace the one in London, given that trading activities in Asian countries are surging and Chinese Yuan is becoming increasingly important. Additionally, the bank has expanded the partnership with Mastercard​ to jointly develop innovations in the area of digital payments for business clients.