FRANKFURT (dpa-AFX) - Deutsche Bank shares rose sharply on Thursday. Analysts attested the bank rather moderate business figures with a view to the end of the year. However, the outlook and the announced significant increase in dividends and share buybacks weighed more heavily on investors' minds. The Frankfurt-based company is also planning further savings through job cuts.

Undeterred by their pre-borne weakness, the shares made a good start to trading on Xetra, gaining up to five percent. By lunchtime, they were up 3.5 percent at 12.46 euros. As a result, they not only remained at the top of the DAX, but also made it back into positive territory in the still young year.

In 2023, the bank earned less on the bottom line than in the previous year despite better business. At that time, it had been helped by a one-off tax credit. However, analysts had feared an even sharper decline in profits. In addition, pre-tax profit reached its highest level in 16 years in 2023. Earnings also increased.

The final quarter was disappointing in terms of sales and costs, emphasized Anke Reingen from the Canadian bank RBC. However, she conceded that expectations had already fallen in advance. UBS expert Mate Nemes spoke of a mixed end to the year.

However, the increase in earnings announced by the bank until 2025 is stronger than previously planned. Shareholders will also benefit from this: the dividend is set to rise from 30 cents a year ago to 45 cents per share. A further 675 million euros are to be returned to shareholders via share buybacks by the end of June. The Management Board is targeting a dividend of one euro for the 2025 financial year.

The ambitions for the coming year promise upside potential for the estimates, praised RBC analyst Reingen. In view of the further cost reductions announced, however, she and Kian Abouhossein from the US bank JPMorgan warned that the words of the Frankfurt-based company must now be followed by action. After cutting costs by 1.3 billion euros last year, Deutsche Bank CEO Christian Sewing now wants to save a further 1.6 billion./gl/bek/stk