Deutsche Bank announces highest profits in 15 years

Deutsche Bank, Germany's richest lender, announced on Thursday that its 2022 profits were the highest since a record year in 2007, with CEO Christian Sewing attributing the financial success to a realignment under his leadership.

The scandal-hit bank, which recently suffered several years of losses, undertook a strategic overhaul in 2019 that included thousands of job cuts and a bigger focus on Europe.

What did the bank say about its earnings?

The bank said its net profits rose to €5.03 billion ($5.5 billion), up from €1.9 billion in 2021.