Deutsche Bank (DB) reported first quarter profit attributable to shareholders of 908 million euros compared to a loss of 43 million euros, prior year. Profit before tax was 1.6 billion euros, up from 206 million euros. Core Bank profit before tax was 2.0 billion euros, more than double the prior year quarter, driven by significant profit growth across all core businesses. Adjusted profit before tax was 2.2 billion euros, also more than double last year.
The Group said the result was driven by revenue growth, a substantial reduction in provision for credit losses, and lower adjusted costs year on year.
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