Deutsche Bank subsidiary DWS increases profits by 40 percent

DWS building in Frankfurt

The managed customer assets rose to a record volume of 859 billion euros.

(Photo: dpa)

Frankfurt The global stock market boom brought the DWS fund company a profit jump in the first half of the year. Net profit climbed by 40 percent to 340 million euros compared to the same period last year, as the Deutsche Bank subsidiary announced on Wednesday.

Client assets under management rose by 39 billion euros to a record volume of 859 billion euros. All regions in America, Europe and Asia-Pacific contributed to the growth.

“Our extremely dynamic business development confirms the strategic direction that we took a year ago with our globally integrated structure,” said DWS boss Asoka Wöhrmann. Income increased in the first six months of 2021 year-on-year by 17 percent to 1.1 billion euros. Due to the high net inflow of funds, it can be assumed that earnings for the year as a whole will be higher than in 2020.

More: Deutsche Bank makes almost 700 million euros in profit in the second quarter

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