Deutsche Bank reports Q1 profit before tax EUR 2.8B

Profit before tax of EUR 2.8B, up 39% over first quarter of 2024; Net profit of EUR 2B, up 39% year on year; Post-tax return on average tangible shareholders’ equity rises to 11.9%, compared to 2025 target of above 10%; Cost/income ratio of 61.2%, within 2025 target of below 65%; Net revenues up 10% year on year to EUR 8.5B; Net inflows of EUR 26B across the Private Bank and Asset Management; Noninterest expenses down 2% year on year to EUR 5.2B; Nonoperating costs down 64% to EUR 93M; Adjusted costs of EUR 5.1B, up 2%; Common Equity Tier 1 capital ratio unchanged at 13.8%; Leverage ratio of 4.6%, in line with previous quarter. “We are very happy with first-quarter results which put us on track for delivery on all our 2025 targets. Our best quarterly profit for fourteen years, achieved through revenue growth combined with lower costs, demonstrates that our Global Hausbank strategy is working well. This puts us in a very strong position to support our clients through a fast-changing geopolitical and macro-economic environment,” said CEO Christian Sewing.