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Deutsche Bank posts weaker-than-expected profit and ditches 2025 cost target

Deutsche Bank reported a weaker-than-expected profit for the fourth quarter of 2024, with a significant drop in investment banking revenue due to a slowdown in deal-making activities. The bank's net profit was 1.26 billion euros, falling short of the 1.33 billion euros anticipated by analysts. This performance led Deutsche Bank to abandon its 2025 cost target of 17 billion euros, citing inflation and investments in technology as reasons for the increased costs. Despite the profit miss, the bank's shares rose by 3.5% in early trading, buoyed by a 10% increase in full-year net profit to 4.2 billion euros. Additionally, the bank announced a share buyback program of 1.6 billion euros and a 50% increase in its dividend to 0.45 euros per share, signaling confidence in its future financial stability.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/finance/deutsche-bank-posts-weaker-than-expected-profit-ditches-2025-cost-target-2025-01-30/ ]