Deutsche Bank earnings up in 1st quarter but Earnings drop

Deutsche Bank says that it saw its profit increase by 67 percent in the first quarter, though revenue dropped 9 percentage as profits from trading dropped sharply.

Germany’s biggest bank reported details of its earnings on Friday, a day later it abandoned talks with German peer Commerzbank on a possible merger.

Revenues dropped to 6.35 billion euros by 6.98 billion euros. The bank said earnings from fixed income sales and trading were off 19 percent at 1.5 billion euros, whereas people from equity sales and trading fell 18 percent to 468 million euros.

CEO Christian Sewing reported that”our continuing cost discipline helped us to offset reduced revenues.”