Q1 2026 Deutsche Bank AG Earnings Call Transcript
Key Points
- Deutsche Bank AG (DB) reported record net profits for Q1 2026, demonstrating resilience in a challenging environment.
- The bank's post-tax return on tangible equity rose to 12.7%, and the cost-income ratio improved to below 59%.
- Revenues increased to EUR8.7 billion, up 6% excluding FX impacts, driven by focused growth areas and an improved business mix.
- The CET1 ratio remained solid at 13.8%, supporting business growth and shareholder distributions.
- Significant progress was made in asset gathering, with assets under management increasing nearly 9% year-on-year, driven by net inflows of EUR22 billion.
- FX headwinds negatively impacted revenues, despite a positive effect on expenses.
- Provision for credit losses was EUR519 million, reflecting additional reserves on a single-name CRE exposure.
- The bank took a EUR90 million management overlay due to macroeconomic uncertainties, particularly related to the Middle East conflicts.
- Corporate Bank revenues were impacted by FX and interest rate headwinds, with a reported decline of 3% year-on-year.
- Investment Bank revenues were flat year-on-year, facing significant FX headwinds and market volatility.
Ladies and gentlemen, welcome to the Q1 2026 analyst conference call and live webcast. I'm Mauritz, Chorus Call operator. (Operator Instructions) and the conference is being recorded. (Operator Instructions) The conference must not be recorded for publication or 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 2026 results call. As usual, Chief Executive Officer, Christian Sewing will speak first; followed by our Chief Financial Officer, Raja Akram. The presentation is always 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 take notice of the precautionary warning at the end of our materials.
With that, let me hand over to Christian.
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