Deutsche Bank reported a 10% increase in net profit for the first quarter, beating analysts' estimates. Revenue rose due to growth in commissions and fees, particularly in fixed income and currencies. The investment bank, which had previously dragged down profit, rebounded with a 13% revenue increase. This is the bank's highest first-quarter profit since 2013 and its 15th consecutive quarterly profit.
UBS, a Swiss bank, has launched a new $2 billion share buyback program. The bank plans to repurchase up to $1 billion of its shares this year, with the aim of exceeding its pre-acquisition levels by 2026. This move follows the completion of a $5.2 billion buyback program in 2022. Share buybacks allow companies to return cash to shareholders and often indicate a positive outlook for the company's stock.
Global dividend payouts reached a record $1.66 trillion in 2023, driven by high interest rates boosting bank margins. Despite this, large dividend cuts from companies like BHP and Intel slightly dampened overall growth. Nevertheless, around 86% of companies either increased or maintained their dividends, with Europe contributing greatly to the overall rise. In 2024, dividend payouts are expected to continue growing, reaching an estimated $1.72 trillion.
