Q1 2025 Deutsche Bank AG Earnings Call Transcript
Key Points
- Deutsche Bank AG (DB) reported a strong first quarter with revenues of EUR8.5 billion, up 10% year on year.
- The bank's pre-tax profit increased by 39% to EUR2.8 billion, and net profit reached EUR2 billion, resulting in a return on tangible equity of 11.9%.
- The cost-income ratio improved to 61%, with adjusted costs of EUR5.1 billion, aligning with full-year guidance.
- The bank's CET1 ratio stands at a robust 13.8%, supporting both client needs and shareholder returns.
- Deutsche Bank AG (DB) achieved a compound annual growth rate of 6.1% in revenue since 2021, within its target range of 5.5% to 6.5%.
- The geopolitical landscape and economic uncertainty are expected to remain elevated, potentially impacting the bank's operations.
- Stage 1 and 2 provisions for credit losses were higher, reflecting the uncertain macroeconomic environment.
- The corporate bank had a weaker start in Q1, although it is expected to accelerate in subsequent quarters.
- The investment bank faced a loss on the partial sale and markdown of a specific loan in leveraged debt capital markets.
- There is ongoing uncertainty around the macroeconomic environment, which may affect model-based Stage 1 and 2 provisions.
Good morning, ladies and gentlemen, and welcome to the Q1 2025 analyst conference call and live webcast.
I am Yusuf, the Chorus Call operator. I would like to remind you that all participants will be in listen-only mode and that this conference is being recorded.
(Operator Instructions)
This conference must not be recorded for publication or for broadcast.
At this time, it's my pleasure to hand over to Ioana Patriniche, Head of Investor Relations. Please go ahead.
Thank you for joining us for our first quarter 2025 results call.
As usual, our Chief Executive Officer, Christian Sewing, will speak first, followed by our Chief Financial Officer, James von Moltke. The presentation, as always, is available to download in the Investor Relations section of our website, db.com.
Before we get started, let me just remind you that the presentation contains forward-looking statements which may not develop as we currently expect. We therefore ask you to
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