Income before income taxes was EUR 3.0bn in the quarter of 2011, compared to EUR2.79bn in the first quarter 2010.
In the first quarter of 2011 net revenues were EUR10.5bn, compared to EUR9.0bn in the same quarter of last year, due to businesses acquired in 2010, namely, Postbank, Sal Oppenheim and the commercial banking activities acquired from ABN AMRO in the Netherlands.
Deutsche Bank chairman of the management board Josef Ackermann said that bank has made a successful start to the year.
"Beyond this, we lowered our risk profile in investment banking and improved our core capital ratio to 9.6%.
"We will continue to invest in our franchise and are confident that we will deliver on our ambitious target of income before income tax of EUR10bn from our business divisions," Ackermann said.
