German financial services provider Deutsche Bank has posted a E2.1 billion net income for the first quarter of 2007, up 29% from E1.6 billion for the corresponding period the previous year.
Before taxes, the German bank saw an income of E3.2 billion, representing a 22% rise from E2.6 billion in Q1 2006, while revenues were up 20% to E9.6 billion for the quarter. Diluted earnings per share increased by 38% to E4.28, while the group posted a pre-tax return on average active equity of 45%.
Dr Josef Ackermann, chairman of the management board, said: Deutsche Bank’s outstanding first-quarter results are testimony to our powerful and well-diversified franchises in key areas, our ability to seize profitable opportunities in different business conditions, and our commitment to high-quality solutions for clients.
He continued: Growth momentum and business confidence in Europe appear solid, as sustained strength and optimism in the German economy continues to contribute positively to the performance of the Eurozone. Key emerging markets, notably China, India and energy-producing nations, are well placed to sustain their dynamic expansion. We are well positioned for further, profitable growth in our business. Our global platform gives us exceptional opportunities to serve our clients in an increasingly globalized marketplace.