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. Last Updated: 07/27/2016

Deutsche Bank Profits

FRANKFURT, Germany () -- Deutsche Bank, Germany's largest commercial bank, reported Wednesday its net profit rose last year by less than 5 percent as investment banking revenues offset the loss of dividend income from two big industrial share holdings.

However, business development from January 1997 to March 1997 promotes confidence that this year's profit will rise above the 1996 level of 2.22 billion Deutsche marks ($1.31 billion), said board chairman Hilmar Kopper in his last report before retiring.

"We are confident overall,'' he told a news conference. "For Deutsche Bank, 1996 was a good year on the whole, though not without difficulties.''

The bank had to pay a heavy charge to bail out industrial group Kloeckner Humbold Deutz AG and covered more than 1.1 billion marks in losses from an accounting scandal at the bank's Morgan Grenfell Asset Management unit.