FRANKFURT, Feb 4 — German giant Deutsche Bank posted Thursday its first annual profit in six years, boosted by strong gains at its investment and private banking divisions.

Net profit for 2020 reached €113 million (RM549 million), while for the fourth quarter of the year, net earnings came in at €51 million.

The bank nevertheless set aside close to €1.8 billion in provisions in 2020 to cope with the risk of credit losses — around 2.5 times more than in 2019 because of the coronavirus pandemic. — AFP