RTTNews | Feb 4, 2021 01:44AM EST

01:43 Thursday, February 4, 2021 (RTTNews.com) - German banking major Deutsche Bank AG (DB) reported Thursday that its fourth-quarter net profit attributable to shareholders was 51 million euros, compared to net loss attributable to shareholders of 1.60 billion euros in the prior-year period.

Profit before tax was 175 million euros, compared to loss before tax of 1.29 billion euros a year ago.

Core Bank profit before tax was 591 million euros, compared to loss before tax of 435 million euros in the year-ago period.

Group net revenues grew 2 percent to 5.45 billion euros from the prior year's 5.35 billion euros.

The Common Equity Tier 1 or CET1 capital ratio was unchanged from last year at 13.6 percent.

"With profit before tax of a billion euros, we're ahead of our own expectations. We have built firm foundations for sustainable profitability, and are confident that this overall positive trend will continue in 2021, despite these challenging times," said Christian Sewing, Chief Executive Officer of Deutsche Bank.

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