Deutsche Bank AG said Thursday that its first-quarter profits will probably slip because of market volatility, but in the same breath chief executive Rolf E. Breuer laid out ambitious profit goals for the next two years.

At a press conference in Frankfurt, Mr. Breuer said through an interpreter that earnings in the current quarter will “hardly be able to compete” with the record year-earlier period, when Deutsche Bank’s net income was $1.4 billion.

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