Deutsche Bank reports profit before tax of € 3.3 billion in the first half year of 2023, highest since 2011

Πέμπτη, 27 Ιουλίου 2023 15:24

Profit before tax of € 3.3 billion in the first half year, up 2% year on year, despite higher nonoperating costs¹

Profit before tax excluding nonoperating costs up 21% to € 4.0 billion
Net revenues up 8% year on year to € 15.1 billion
Noninterest expenses up 8% to € 11.1 billion including nonoperating costs of € 744 million; adjusted costs1 up 2% to € 10.3 billion
Post-tax profit of € 2.3 billion, down 7%, reflecting a higher tax rate
Post-tax return on tangible equity (RoTE)1 of 6.8%, cost/income ratio of 73%
Assuming equal apportionment of 2023 bank levies and excluding nonoperating costs, post-tax RoTE1 of 9.3% and cost/income ratio of 67%
Net inflows of € 28 billion across the Private Bank and Asset Management

Second-quarter profit before tax of € 1.4 billion, down 9% year on year after nonoperating costs of € 655 million

Excluding non-operating costs, profit before tax of € 2.1 billion, up 25%
Post-tax profit of € 940 million
Post-tax RoTE1 of 5.4%, cost/income ratio of 76%
Assuming equal apportionment of 2023 bank levies and excluding nonoperating costs, post-tax RoTE¹ of 8.1% and cost/income ratio of 68%

Double-digit revenue growth and business growth in the second quarter

Second-quarter noninterest expenses of € 5.6 billion, up 15% year on year

Adjusted costs up 4% to € 4.9 billion
Nonoperating costs include € 395 million in litigation charges and € 260 million in restructuring & severance related to execution of strategy

2023 share buybacks approved and capital distribution goals reaffirmed

Resilient capital and balance sheet in the second quarter

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