Deutsche Bank reported a net income of €201m for the first quarter of 2019.
This marks a 67% jump from income of €120m reported in the same quarter of 2018.
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In February this year, the banking group reported its first full-year net profit since 2014.
However, the group’s net revenues for the quarter ended 31 March 2019 were €6.35bn, down 9% from €6.97bn in the previous year.
Total noninterest expenses dropped 8% to €5.92bn from €6.46bn.
The group’s common equity tier 1 capital ratio at the end of March 2019 was 13.7%, compared to 13.4% a year ago.
Deutsche Bank CEO Christian Sewing said: “We have made progress on key business drivers: growth in loans and deposits, a recovery in assets under management and market share improvements in corporate finance.
“Our continued cost discipline helped us to offset lower revenues and we are well on track to meet our 2019 cost target of 21.8 billion euros.”
Deutsche Bank Private & Commercial Bank (PCB) reported a pre-tax profit of €287m for the first quarter of 2019.
This is a decrease of 11% from last year’s figure of €325m.
The unit’s quarterly net revenues dipped 5% to €2.51bn from €2.64bn.
Total noninterest expenses at the unit dropped 5% year-on-year to €2.11bn.
Deutsche Asset Management posted a pre-tax profit of €96m in the three months through March 2019, versus €72m in the previous year.
Net revenues at the division fell 4% to €525m from €545m.
Meanwhile, the merger negotiations between Deutsche Bank and Commerzbank have collapsed.
The banks confirmed merger talks last month.
However, they have now decided against the move citing that the deal would not be in the interests of shareholders.
