Postbank, which has Germany's largest retail banking network, said Tuesday that first quarter net profit had fallen but that the worst of the financial crisis was past, AFP reported.
Postbank's net profit dropped by 28 percent to 84 million euros (112 million dollars), a statement said, and was saved from falling into the red by a positive tax effect.
Pre-tax profit showed a loss of 91 million euros, compared with a profit of 168 million euros in the same period a year earlier.
The bank's results were nonetheless better than in previous quarters.
It recorded a pre-tax loss of 866 million euros in the last quarter of 2008, for example.
"We are certain of having left behind us the peak of charges linked to the financial crisis in the fourth quarter and feel the trend is slowly turning," the statement quoted boss Wolfgang Klein as saying.
Postbank has reinforced its position in savings accounts by gaining 117,000 new ones to bring its total to five million.
The bank has also boosted its activities among small- and medium-sized enterprises, it said.
For the full year, Postbank expects to take fewer charges than in 2008 and is targeting a medium-term net return of shareholder's equity of 13-15 percent.
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