Deutsche Bank's profits plummeted by an astonishing 92%, as Germany's economy struggled. Profits attributable to shareholders dropped to €106 million (£89m) in the final three months of 2024, down from €1.26 billion in the fourth quarter of 2023.
The bank's struggles are symptomatic of a greater malaise in the German economy, which has contracted for a second year.
German industry is grappling with higher energy prices in the wake of Russia's full-scale invasion of Ukraine. At the same its car industry , which employs around 780,000 workers and contribute 5% to GDP, is facing intense pressure from Chineses rivals.
This last quarter, Deutsche Bank had to shell out €1.7 billion in legal fees and litigation costs. Most of this money was related to payments Deutsche Bank had to make to disgruntled shareholders of Postbank, which it acquired in 2018.
Source: https://www.express.co.uk/news/world/2008068/germany-economy-deutsche-bank-profits