Deutsche Bank posts Q1 2025 pre-tax profit of EUR 2.4 billion, up 50% year on year

Deutsche Bank reported on 29 April 2025 a profit before tax of EUR 2.4 billion (EUR 2,446 million) for the first quarter of 2025, up 50% on the same period a year earlier. Profit after tax rose 49% to EUR 1.7 billion (EUR 1,732 million).

Net revenues increased 10% year on year to EUR 8.1 billion (EUR 8,133 million), while noninterest expenses fell 2% to EUR 5.2 billion (EUR 5,216 million). Adjusted costs rose 2% to EUR 5.1 billion. The cost/income ratio was 64.1% and post-tax return on tangible equity was 9.6%. Provision for credit losses was EUR 471 million.

DIVISIONAL PERFORMANCE

The Investment Bank generated net revenues of EUR 3.4 billion, up 10%, and its profit before tax rose 22% to EUR 1.5 billion. Revenues in Fixed Income and Currencies increased 17% to EUR 2.9 billion. The Corporate Bank's net revenues declined 1% to EUR 1.9 billion, with profit before tax up 3% to EUR 632 million.

The Private Bank reported net revenues of EUR 2.4 billion, up 3%, and a 43% increase in profit before tax to EUR 490 million. Asset Management net revenues rose 18% to EUR 730 million and its profit before tax increased 67% to EUR 204 million.

CAPITAL AND OUTLOOK

The Common Equity Tier 1 capital ratio stood at 13.8% at the end of the quarter, following the implementation of the European Union's CRR3 capital rules. The bank kept its full-year 2025 revenue target of around EUR 32 billion.

Deutsche Bank said its EUR 750 million share buyback programme was expected to be completed in the third quarter of 2025. Together with a dividend of EUR 0.68 per share, the bank expected total shareholder distributions of around EUR 2.1 billion in 2025.