Q3 2024 Deutsche Bank AG Fixed Income Earnings Call Transcript
Key Points
- Deutsche Bank AG (DB) reported a 17% year-on-year growth in pre-provision profit, reaching EUR7 billion in the first nine months, driven by revenue momentum and cost discipline.
- The bank's nine-month revenues grew by 3% year on year, with 75% of revenues coming from more predictable income streams.
- Asset management saw a significant increase, with assets under management growing by EUR67 billion year to date, supported by strong inflows into a diverse product suite.
- The corporate bank increased deals with multinational clients by 18% compared to the previous year, showcasing strong client engagement.
- Deutsche Bank AG (DB) achieved a common equity Tier 1 ratio of 13.8%, 30 basis points higher than the previous quarter, indicating strong capital management.
- Provision for credit losses increased to EUR494 million, with Stage 3 provisions rising to EUR482 million, mainly due to transitional Postbank integration effects.
- The bank faced headwinds from the Postbank integration, leading to longer-than-expected impacts on internal collection and recovery processes.
- Deutsche Bank AG (DB) reported a higher-than-expected full-year commercial real estate provision run rate, although it has declined quarter on quarter.
- The German economy's slow growth and recessionary trends pose challenges, with weakness in manufacturing impacting overall economic performance.
- The bank's issuance plan for 2025 remains uncertain, with potential challenges in market conditions affecting future funding strategies.
Ladies and gentlemen, welcome to the Q3 2024 fixed income conference call and live webcast. I'm Sandra, the Chorus Call operator. (Operator Instructions) and the conference is being recorded. The conference may not be recorded for publication or broadcast.
At this time, it's my pleasure to hand over to Philip Teuchner, Investor Relations. Please go ahead, sir.
Good afternoon or good morning, and thank you all for joining us today. On the call, our Group Treasurer, Richard Stewart, will take us through some fixed income-specific topics. For the subsequent Q&A session, we also have our CFO, James von Moltke, with us to answer your questions. The slides that accompany the topics are available for download from our website at db.com. After the presentation, we will be happy to take your questions.
Before we get started, I just want to remind you that the presentation may contain forward-looking statements, which may not develop as we currently expect. Therefore, please take
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
