Deutsche Bank post ?5 BN net profit

04/02/2010 Deutsche Bank post ?5 BN net profit

Deutsche Bank has reported an unaudited net income of ?5 billion for the year 2009, it has been revealed.

This proved to be an improvement on the previous year, when it recorded a net loss of ?3.9 billion, in an announcement that may interest those in audit jobs.

Dr Josef Ackermann, chairman of the management board, stated that last year had been a great success, with increased profitability coupled with a reduction in balance sheet leverage.

He added: "We also took decisive strategic action in 2009. We re-positioned core businesses and widened our scope for profitable growth, both by organic investments and via targeted acquisitions."

And Dr Ackerman noted that the company now sees a clear road to recovery and fully expects to handle the challenges that 2010 will bring.

The bank recently announced a series of measures that allow small and medium-sized enterprises access to funding, which will enable them to stabilise their finances.

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