Deutsche Bank doubles profits well

In the first quarter, Deutsche Bank made more than twice the profit than one year earlier.

The biggest bank in Germany was especially benefiting from cuts.

Deutsche Bank's net profit came to EUR 575 million last year, against 236 million euros in the first quarter of 2016. The bank's total revenue declined by 9 percent to 7.3 billion euros.

The profit thus exceeded the expectations of the analysts, while the yields were quite contrary.

Topman John Cryan said that the cuts at Deutsche Bank were beginning to culminate. 'We have laid a solid foundation for achieving good results,' he concluded.