Deutsche Asset & Wealth Management (DeAWM) has posted pre-tax income of EUR365m for the fourth quarter of 2014, an increase of 82% compared to EUR200m for the same period a year ago.

The bank saw net revenues of EUR1.2bn in the fourth quarter, up 5% compared to EUR1.18bn at the end of the fourth quarter of 2013.

The bank’s management fees and other recurring revenues were up 12% due to higher average assets under management reflecting positive asset flows and foreign currency effects.

Moreover, DeAWM’s noninterest expenses stood at EUR874m for the quarter, down by 10% from EUR975m compared to the fourth quarter of 2013.

For the quarter ended 31 December 2014, the unit’s net interest income rose by EUR22m or 15% amid increased lending volumes and the recovery of loan interest relating to prior periods.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

In addition, DeAWM’s invested assets were EUR1.03 trillion as of 31 December 2014, an increase of EUR33bn compared to the previous quarter ended 30 September 2014.

The group posted net inflows of EUR10bn across passive, wealth management, active and alternative businesses, as well as across our clients and regions.

Overall, Germany’s largest bank posted net revenues EUR7.8bn for the quarter, an increase of 19% from EUR6.56bn in the same quarter of prior year.

Deutsche Bank has reported income before income taxes of EUR253m in fourth quarter, compared to a loss of EUR1768m in the same period of 2013.

Deutsche Bank co-CEOs Jürgen Fitschen and Anshu Jain said: "In 2014 our pre-tax profit rose from EUR1.5bn to EUR3.1bn, and net income rose from EUR681m to EUR1.7bn. In the fourth quarter of 2014, we reported a pre-tax profit of EUR253m versus a loss of EUR1.8 billion a year ago and net income of EUR441m versus a loss of EUR 1.4bn a year ago.

"Further, we increased net revenues in the fourth quarter by 19% year-on-year from EUR6.6bn to EUR7.8bn largely reflecting higher revenues in Corporate Banking & Securities, where we gained further market share across fixed income and corporate finance during the year. Also in the fourth quarter, we surpassed EUR1trn in assets under management in DeAWM."