Deutsche Bank delivers record quarterly post-tax profit of €2.2 billion as pre-tax earnings rise 7%

Deutsche Bank reported on 29 April 2026 a post-tax profit of €2.174 billion for the first quarter of 2026, up 8% year on year and a quarterly record. Profit before tax rose 7% to €3.0 billion and diluted earnings per share increased 7% to €1.06.

Net revenues rose 2% to €8.7 billion, or 6% excluding foreign-exchange effects, while noninterest expenses fell 2% to €5.1 billion. The cost/income ratio improved to 58.9% from 61.2%, and post-tax return on tangible equity rose to 12.7% from 11.9%. “This quarter's record profit gives us a great start on the next phase of our strategy,” chief executive Christian Sewing said.

DIVISIONAL PERFORMANCE

The Private Bank's pre-tax profit rose 39% to €681 million on record quarterly revenues of €2.6 billion, and Asset Management's profit increased 37% to €279 million. Corporate Bank revenues fell 3% to €1.8 billion, with loans up €7 billion on a year earlier. Investment Bank revenues were flat at €3.4 billion: Fixed Income & Currencies revenues of €2.9 billion were close to the record prior-year quarter, and Investment Banking & Capital Markets revenues rose 5% to €477 million. The division's pre-tax profit fell 7% to €1.44 billion.

PROVISIONS AND OUTLOOK

Provision for credit losses rose 10% to €519 million, or 43 basis points of average loans, including an overlay reflecting macroeconomic uncertainties. In the Investment Bank, provisions were significantly higher, driven by a single-name exposure and the macroeconomic overlay. The common equity tier 1 ratio was 13.8%, within the bank's target range of 13.5-14.0%, and a previously announced €1 billion share buyback is under way.

The bank said first-quarter performance was in line with expectations and provided a solid step-off point for its full-year 2026 revenue ambition of €33 billion, with expenses expected to be in line with plan.