Deutsche Bank with 67% profit in Q1 after merger talks collapse

Deutsche Bank posted stronger than expected earnings for the first quarter today, less than 24 hours after canceling its plans to merge with Commerzbank.

The largest bank in Germany reported € 201 million ($ 233 million) in net income for the first three months of the year. This is an increase of 67% compared to the same period a year ago and better than the 29 million euros expected by Reuters economists poll.

Revenue is 9% lower for Q1, but according to the bank they are on the right track to reach their 2019 target of 21.9 billion euros.

"The results for our first quarter demonstrate the strength of our franchise and the continued progress in implementing our plans in a very challenging market environment," said CEO Christian Sewing.

"We have made progress in the key segments: growth in loans and deposits, asset recovery under management and improvement in the market share of corporate finance."

These figures come a little after Deutsche Bank officially concluded its merger talks with Commerzabnk, commenting that the deal would be too risky.

Over the past few years, Deutsche has entered the news for the wrong reasons - cases with the U.S. Department of Justice, permanent restructuring of management, and sudden price collapse.

Last year, the bank posted its first net profit per calendar year since 2014, but shares are still more than 35% lower for a 12-month period.

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