Reports Q1 Net €1.9B v €2.3B; Pretax profit €1.5B, -12% y/y; Rev €10.4B, +24% y/y
- Core tier 1 capital ratio fully loaded 11.7% v 11.7% q/q
- Leverage ratio 3.4% v 3.5% q/q- After tax ROE 3.1% v 7.9% y/y
- Loan loss provisions €218M v €246M y/y
- Global transaction banking pretax €409M v €356M y/y
- Deutsche Asset & Wealth management pretax €291M v €166M y/y
- Corporate banking and Securities pretax €643M v €1.44B y/y
- Private Business and clients pretax €536M v €475M y/y
- Co-CEOs: In the first quarter 2015, revenues were close to record levels, reflecting the strength of our franchise across all our core businesses. Profits were impacted by litigation expenses of €1.5B, primarily reflecting the banks definitive settlement with US and UK authorities relating to interbank offered rates (IBOR) and bank levy charges of €561 million.... Core Bank adjusted IBIT of €3.5B was the best since we launched Strategy 2015+ in 2012, reflecting both revenue strength and discipline in our adjusted cost base. In CB&S, Debt Sales & Trading revenues were the best since eight quarters and Equity Sales & Trading revenues the best since 2008, driven by strong client activity, robust markets and a normalization of market volatility after recent historic lows. Both PBC and GTB overcame the challenge of persistent low interest rates to achieve near record quarterly profits. Deutsche AWM grew revenues significantly, increased pre-tax profits by 75% year-on-year, and attracted €17B of net new money inflows.... These results provide a snapshot of a Deutsche Bank which is much stronger than when we began our journey in 2012. We have delivered robust operating performance despite tight resource discipline and significant investments in regulatory compliance. We have significantly strengthened our capital position. We embark on the next phase of our strategy from a position of strength.
- Full release: https://www.db.com/ir/en/content/ir_releases_2015_4951.htm