Dealmaking Helps Deutsche Bank Land Biggest Profit in a Decade

Dealmaking Helps Deutsche Bank Land Biggest Profit in a Decade
The logo of German bank Deutsche Bank at the company's headquarters in Frankfurt am Main, western Germany, on Feb. 2, 2017. Daniel Roland/AFP via Getty Images
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FRANKFURT—Deutsche Bank delivered its most profitable year in a decade on the back of a dealmaking bonanza, strengthening Chief Executive Christian Sewing’s hand as he fine tunes a new strategy and tackles costly competition for talent.

Analysts had forecast a fourth quarter loss and shares in Germany’s largest bank rose by more than 5 percent after the surprise finale to 2021, which marked the second straight annual profit following years of losses.