DB - Deutsche Bank stock climbs 11% as strong Q1 paves way to reach 2022 goals

Deutsche Bank (DB) stock surges 11% after the German lender posted its strongest quarter in seven years, putting the bank well on its way to achieving its 2022 targets.Returns for its core bank exceeded its goal for next year.The company's Investment Bank unit benefited from strong fixed income and currencies trading and Asset Management revenue rose as inflows helped boost assets under management. Expenses control and lower provision for credit losses also helped.Investment Bank net revenue of €3.1B ($3.8B) rose 32% Y/Y, with revenue in Fixed Income & Currencies growing 34% to €2.5B on strong growth in credit trading and financing.Private Bank net revenue of €2.2B as flat Y/Y.Asset Management net revenue rose 23% to €637M, iwth management fees essentially stable; four straight quarters of client inflows and supportive market conditions offset industry-wide pressure on margins. AUM rose by €28B to €820B, a record level. Net inflows were €1B during the Q1.Non-interest

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Deutsche Bank stock climbs 11% as strong Q1 paves way to reach 2022 goals