Q4 attributable net profit 1.8 bln euros vs forecast 951 mln
Period concludes restructuring programme
Q4 investment banking revenues disappoint
Shares fall as much as 5 before recouping some losses

FRANKFURT, Feb 2 Reuters Deutsche Bank shares fell as much as 5 in early Thursday trading as investors looked beyond forecastbeating quarterly earnings and a third consecutive year of profit to the challenges that lie ahead.

Some analysts were disappointed by a drop in fourthquarter investment bank revenues and warned of risks from a slowing economy, high inflation and a potential peak in interest rates.

There is little in these results to change earnings expectations if not the risk of a potential minor downgrade this year, JPMorgan analysts said.

The results marked the end of a 9 billion euro 9.9 billion, fouryear turnaround plan put in place by one of the world39;s most systemically important banks after years of losses.

The plan has stabilised the bank while a rise in interest rates has given lenders an additional lift, which Deutsche said would continue to boost revenue in 2023.

Net profit attributable to shareholders was 1.80 billion euros 1.98 billion in the three months to Dec. 31. That compared with 145 million euros a year earlier and analyst expectations of about 951 million euros.

It was a 10th consecutive quarter of profit, the bank39;s longest streak in the black in at least a decade, though returns were dampened by an industry slump in dealmaking….