Deutsche Bank confirms 2009 net income of $6.9B

Deutsche Bank AG says it made net income of euro5 billion ($6.9 billion) in 2009 and that it expects the banking market to progress slowly toward "a new form of normality" this year and next.

Deutsche Bank AG says it made net income of euro5 billion ($6.9 billion) in 2009 and that it expects the banking market to progress slowly toward "a new form of normality" this year and next.

HT Image

Deutsche Bank, based in Frankfurt and Germany's biggest lender, lost nearly euro4 billion in 2008 as the global economic crisis hit earnings.

The bank confirmed Tuesday its preliminary estimates published last month that 2009 revenue more than doubled to euro28 billion from almost euro14 billion in 2008.

Deutsche Bank says the current year would improve but remain difficult, and that in 2011 pretax profit could amount to euro10 billion from core businesses.

In 2009, the company's operating profit was euro5.2 billion. That compared with a euro5.7 billion loss in 2008.