FRANKFURT (dpa-AFX) - Deutsche Bank will present its balance sheet for 2023 this Thursday (7 a.m.). Analysts expect Germany's largest financial institution to have earned around 5.6 billion euros before taxes, as in the previous year. However, at around 3.7 billion euros, the bottom line profit is likely to have been significantly lower than in 2022. At that time, after deducting interest payments to holders of subordinated bonds, shareholders of the Frankfurt-based DAX-listed group were left with a profit of just over 5.0 billion euros.

Last year, problems at Postbank, which belongs to the Deutsche Bank Group, caused a lot of trouble and additional costs in the millions. In connection with an IT changeover, there had been an accumulation of complaints from customers who, for example, could no longer access their accounts at times or complained about delays in mortgage loans. The financial supervisory authority Bafin sent a special watchdog to the bank. Contrary to what Group CEO Christian Sewing had promised in the fall, not all problems could be resolved by the end of 2023.

There were also difficulties in converting the computer systems of the fund subsidiary DWS. The fund company wants to detach itself from its parent company for many administrative processes - provided it can do it itself and more cheaply. However, the original plans for this proved to be too optimistic. DWS CEO Stefan Hoops therefore expected DWS to have "another year with considerable IT set-up costs" in 2024./ben/DP/nas