FRANKFURT (dpa-AFX) - German banking major Deutsche Bank AG (DB) reported Thursday that its fourth-quarter profit attributable to shareholders plunged 92 percent to 106 million euros from last year's 1.26 billion euros.
The results primarily reflected non-recurrence of 1.0 billion euros positive DTA valuation adjustment in prior year quarter.
Profit before tax was 583 million euros, down 17% from last year.
Revenues were 7.2 billion euros, up 8% over prior year quarter, reporting the highest since 2014.
Looking ahead, for fiscal 2025, the bank reaffirmed its revenue goal of around 32 billion euros.
The bank expects provision for credit losses to moderate from 2024 levels.
In 2024, net revenues were 30.1 billion euros.
Further, Deutsche Bank announced plans for 2.1 billion euros in further capital distributions to shareholders in 2025.
The bank has received supervisory authorization for further share repurchases of 750 million euros so far in 2025 and plans to propose 2024 dividends of 1.3 billion euros, or 0.68 euros per share, at its Annual General Meeting in May 2025, up 50% from 0.45 euro per share for 2023.
The bank reaffirmed its aim to exceed its capital distribution goal of 8 billion euros in respect of the financial years 2021-25, paid in 2022-26.
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