By Helena Smolak
Deutsche Bank said it would pay an increased dividend for 2023 and launch a buyback program despite a profit decline in the fourth quarter.
The German lender said Thursday that its net profit for the three months to the end of December was EUR1.26 billion euros ($1.36 billion), down from EUR1.95 billion for the same period in 2022. The bank said that earnings were hit by higher provisions for credit losses and noninterest expenses.
Revenue ticked up 5% on year to EUR6.66 billion.
However, the German bank declared a full-year dividend of 45 European cents, up from 30 cents in 2022. In addition, it intends to buy back shares with a volume of EUR675 million in the first half of 2024.
Write to Helena Smolak at helena.smolak@wsj.com
