The bank has started to review its strategy for 2026 and beyond. Credit: Vytautas Kielaitis/Shutterstock.

Germany-based Deutsche Bank‘s CEO Christian Sewing has indicated that the bank may consider exiting certain business segments.

This comes after the bank reported decline in profits for the fourth quarter and the full year.

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Its Q4 2024 net profit was €337m ($350m), down from €1.4bn ($1.8bn) in the fourth quarter of 2023, mainly due to the non-recurrence of a €1bn ($1.04bn) positive DTA valuation adjustment in prior year quarter.

For full year, net profit decreased by 28%, from €4.9bn ($5.1bn) in 2023 to €3.5bn ($3.64bn) in 2024.

The bank’s investment banking revenue gains were overshadowed by legal provisions and restructuring costs.

Despite the profit decline, Deutsche Bank announced plans for a share buyback programme worth €750m ($781m).

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The results set the stage for what is anticipated to be a pivotal year for the bank. Sewing has set forth a series of ambitious profit and cost targets for the bank, which has faced challenges in the past, reported Reuters.

In a memo to employees, Sewing stated, “We have always said that 2025 will be decisive for us. At the end of this year, we will be judged by whether we have been successful with our transformation and growth strategy.”

He also mentioned that the bank has started to review its strategy for 2026 and beyond, with further details to be shared later in the year.

Personal banking revenues at Deutsche Bank saw a 5% year-on-year decline, totalling €5.3bn ($5.51bn), in 2024,

This was attributed to increased hedging and funding costs, which offset the growth in deposit revenues. Additionally, personal banking revenues fell by 2% year-on-year to €1.4bn ($1.45bn).

Earlier this month, Deutsche Bank announced the acquisition of an $800m non-performing loan portfolio from First Abu Dhabi Bank.