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. Last Updated: 07/27/2016

Deutsche Bank Profits




FRANKFURT, Germany -- Deutsche Bank AG on Wednesday posted a 50 percent jump in net income in 1999, beating market forecasts as trading income offset a cost surge linked to restructuring and the integration of Bankers Trust.


Germany's biggest bank said net profit grew to 2.6 billion euros ($2.55 billion) last year, up just under 50 percent from 1998 and topping average analyst forecasts of around 2.5 billion euros.


Trading profit leapt 170 percent to 4.8 billion euros in a strong recovery from a dismal 1998 when profits collapsed as a result of the financial crises in Asia and Russia. That was more than 200 million euros above analysts' forecasts.


Administrative costs grew about 55 percent as a result of business growth and the consolidation of Bankers Trust in the United States, Deutsche said. The bank's focus on investment banking has inflated costs as bonus payments and high salaries increase payroll expenses.