Deutsche Bank has reported a net profit of €1bn for the first quarter ended 31 March 2022, a 17% increase compared to €908m for the corresponding same of the previous year.
The bank has reported a profit before tax (PBT) of €1.7bn for the first quarter (Q1) 2022, a 4% rise compared to €1.6bn for the same period last year.
Its non-interest expenses for the reported period were €5.4bn, which declined by 4% compared to €5.6bn for the corresponding quarter in 2021.
The bank has reported a Common Equity Tier 1 (CET1) capital ratio of 12.8% for Q1 2022, which decreased by 0.9 ppt compared to 13.7% for the same quarter the previous year.
Deutsche Bank CEO Christian Sewing said: “In this quarter, we showed our strength and resilience as the Global Hausbank. Our priority was to enable clients to respond quickly to geopolitical events and guard against risks.
“All our businesses delivered results in line with or ahead of our targets, and we produced our highest quarterly profit for nine years.”
Deutsche Bank CFO James von Moltke said: “Our first-quarter revenues demonstrate clear momentum towards our 2022 objectives.
“We believe this momentum, combined with continued cost discipline and organic capital generation, positions us well for delivery on our 2022 targets.”
Deutsche Bank’s corporate bank (CB) business reported net revenue of €1.5bn for Q1 2022, an 11% rise compared to €1.3bn for the same quarter in 2021.
Its Investment Bank (IB) unit has reported net revenue of €3.3bn for Q1 2022, a 7% increase compared to €3bn for the corresponding quarter of the prior year.
The bank’s Private Bank (PB) business reported net revenue of €2.2bn for Q1 2022, a 2% rise compared to €2.1bn for the same period last year.
Its Asset Management (AM) arm reported net revenue of €682m for Q1 2022, a 7% increase compared to €637m for the corresponding period of 2021.
