Profits before tax for the first quarter of 2024 soar by 10% year-on-year to reach €2.0 billion, as per our site's report.
Deutsche Bank Delivers Strong First-Quarter Performance and Progresses Global Hausbank Strategy
Deutsche Bank has reported impressive financial results for the first quarter of 2024, showcasing robust growth, improved cost efficiency, and progress in executing its Global Hausbank strategy.
The bank's pre-tax profit more than doubled to €5.3 billion in the first half of 2025, with net profit rising to €3.7 billion. This substantial increase reflects strong profitability gains, partly due to the absence of exceptional provisions. Excluding one-off effects, pre-tax profit still increased 37% year-over-year.
Net banking income grew by 6% to €16.3 billion, aligning with the full-year target of roughly €32 billion. The growth was supported by double-digit pre-tax income growth across all four business divisions.
Deutsche Bank also made significant strides in cost efficiency, with noninterest expenses declining between 8% and 15% year-on-year to about €10.2 billion. This led to an improved cost/income ratio of around 62-69%.
The bank's return on tangible equity (RoTE) reached 11%, exceeding the bank’s target of greater than 10%.
Regarding the Global Hausbank strategy, Deutsche Bank has made accelerated progress. Since 2021, the compound annual revenue growth rate has been 5.9%, within the target range of 5.5-6.5%. Assets under management grew by €109 billion over the last twelve months, with €41 billion net inflows in H1 2025.
The bank has also made major progress on operational efficiency, with cumulative savings of €2.2 billion realized or expected from a €2.5 billion target program through platform optimization and workforce reduction. Capital efficiency was enhanced with a further €2 billion risk-weighted asset (RWA) reduction.
Other highlights from the first quarter of 2024 include a 50% increase in the proposed cash dividend, a leverage ratio of 4.5%, a liquidity coverage ratio of 136%, and a net stable funding ratio of 123%. The bank also received a rating upgrade from CDP and participated in a €4.4 billion non-recourse project financing for Automotive Cells Company.
Deutsche Bank has also made significant strides in sustainable finance, with cumulative ESG-related financing and investment volumes reaching €300 billion. The bank's Private Bank has €62 billion in ESG assets under management and new client lending since January 1, 2020. The Investment Bank has a cumulative total of sustainable financing and capital market issuance of €179 billion.
The bank has also published its revised Sustainable Finance Framework and proposed linking parts of Management Board compensation for 2024 to the carbon emission sectoral targets for the corporate loan portfolio at its Annual General Meeting.
Deutsche Bank will hold an analyst call on April 26, 2024, at 11:00 CEST, and a fixed income investor call on the same day at 15:00 CEST.
These results demonstrate Deutsche Bank's effective execution of its strategy to build a diversified, resilient, and efficient banking model, positioning it well to meet its medium-term financial targets and support its client base globally and in Europe.
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- Deutsche Bank's strong first-quarter performance in 2024, driven by its Global Hausbank strategy, has boosted their asset management and wealth management sectors, offering comprehensive business solutions for personal-finance and private banking clients.
- The bank's growth in sustainable finance, evidenced by €300 billion in ESG-related financing and investment volumes, demonstrates their commitment to responsible and sustainable investing, aligning with the expectations of both clients and the broader finance industry.
- The increased revenues and reduced costs achieved by Deutsche Bank over the last few years are contributing to their progress in operational efficiency, which is essential for any successful business in the competitive world of finance.
- In the realm of private banking, Deutsche Bank has seen substantial growth in ESG assets under management, now totaling €62 billion, an indicator of their clients' increasing interest in sustainable and ethical investing.
