Deutsche Bank Asset & Wealth Management (DeAWM) saw net revenues of EUR 4.6 billion in 2013, an increase of EUR 266 million, or 6%, compared to the same period in the previous year.
This rise was attributed to the increase in equity and bond markets, as well as efforts to improve its operating platform delivering cost efficiency.
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Pretax income also sharply rose, by EUR 628 billion, to hit EUR 782 million in 2013.
Overall, Germany’s largest bank saw net revenues drop 5% in the year, from EUR 33.7 billion to EUR 31.9. Despite this, the bank believes they are on course to meet their 2015 targets.
Jürgen Fitschen and Anshu Jain, co-chairmen of the management board, said: "In 2013, Deutsche Bank made significant progress in implementing Strategy 2015+. As a result, our financial results reflect the impact of investments in our platform and our determination to deal decisively with litigation matters arising from legacy issues. These factors produced an unsatisfactory financial result for shareholders. Nonetheless, operating performance in our core business was the second highest in a decade, and was achieved with a leaner, safer and better balanced platform."
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