Deutsche Bank reports third-quarter 2024 profit before tax of € 2.3 billion

Third-quarter profit growth driven by approximately € 440 million partial release of Postbank-related litigation provisions, combined with operating momentum

• Profit before tax of € 2.3 billion with post-tax profit of € 1.7 billion
• Post-tax RoTE¹ of 10.2% and cost/income ratio of 63%

Operating results, excluding Postbank-related litigation release, increase year on year to a third-quarter record level

• Profit before tax of € 1.8 billion, up 6%; post-tax profit up 8% to € 1.3 billon
• Post-tax RoTE¹ of 7.6%, up from 7.3%, and cost/income ratio of 69%, down from 72%, compared to prior year quarter

Sustained revenue and business growth

• Net revenues up 5% year on year to € 7.5 billion
• Commissions and fee income up 5% year on year to € 2.5 billion
• Net inflows of € 27 billion across Private Bank and Asset Management

Continued operating cost discipline

• Adjusted costs of € 5.0 billion, up 2% year on year, in line with 2024 quarterly guidance for the third consecutive quarter
• Noninterest expenses down 8% year on year to € 4.7 billion, or € 5.2 billion, flat year on year, ex-Postbank litigation release

Common Equity Tier 1 (CET1) capital ratio rises to 13.8%

• Authorization sought for further share repurchases

Provision for credit losses of €494 million

• Baseline asset quality remains stable
• Impact of transitory effects expected to moderate in future quarters
• Commercial real estate provisions down 34% quarter on quarter

First nine months of 2024: strong operating performance

• Profit before tax of € 4.7 billion, down 5% year on year, or € 5.6 billion, up 13%, excluding Postbank takeover litigation provision (‘litigation impact’)
• Net revenues up 3% to € 22.9 billion, in line with full-year 2024 guidance
• Adjusted costs down 1% to € 15.1 billion, in line with 2024 guidance
• Noninterest expenses up 3% to € 16.8 billion, or € 15.8 billion, down 2%, ex-Postbank litigation impact
• Post-tax RoTE¹ of 6.0%, or 7.8% ex-Postbank litigation impact, compared to post-tax RoTE¹ of 7.0% in the prior year period
• Cost/income ratio of 73%, or 69% ex-Postbank litigation impact, compared to a cost/income ratio of 73% in the prior year period

Full press release