FRANKFURT, Germany (AP) Deutsche Bank saw its strongest quarterly profits in seven years as the bank’s long-running restructuring showed in lower costs and as it suffered fewer loan losses due to an improving economic outlook as growth slowly rebounds from the pandemic.
Profit attributable to shareholders was 908 million euros ($1.1 billion) in the first three months of the year compared with a loss of 43 million euros in the year-earlier period. Top-line revenues rose 14 percent to 7.23 billion euros.
Among the factors contributing to the improved result was releasing money that had been set aside to cover loans that aren’t expected to be repaid. Provisions for credit losses fell 86% to only 69 million euros in the first quart…
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