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

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

• 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

Full press release