Profits before tax for the first quarter of 2024 soar by 10% year-on-year, reaching €2.0 billion, according to our website's latest report.
Deutsche Bank Reports Strong Q1 2024 Performance and Continued Growth in H1 2025
Deutsche Bank has announced its financial results for the first quarter of 2024, showing a strong foundation for the year ahead. The bank's Q1 2024 performance served as a baseline for the substantial growth seen in subsequent quarters, including Q1 2025.
In Q1 2024, the bank reported a net profit of an unspecified amount, but this figure was significantly lower compared to the profits seen in the following quarters. The key driver of the dramatic year-over-year profit jump in 2025 was the non-recurrence of a large litigation provision of €1.3 billion related to Postbank, which was recognized in Q2 2024.
Despite the lower Q1 2024 profits, the bank's financial trajectory began to improve. Net banking income (revenue) grew by 6% to €16.3 billion in H1 2025, up from the prior year. This growth underpinned the improved profits and was aligned with the bank’s full-year 2025 target of €32 billion.
Non-interest expenses declined by 15% year-on-year to €10.2 billion in H1 2025, reflecting cost discipline and the absence of exceptional provisions that had inflated expenses in 2024. Adjusted costs remained flat year-on-year at about €10.1 billion, indicating a stable cost base following Q1 2024’s higher figures due to litigation-related charges.
Provision for non-performing (Stage 3) loans was € 471 million, up 3% from the previous quarter. Provision for credit losses was €894 million in H1 2025, down 2% compared with H1 2024, signaling a slight reduction in expected credit losses.
The bank's financial strength was further demonstrated by its high-quality liquid assets, which stood at €222 billion at the end of Q1 2024. The Common Equity Tier 1 (CET1) capital ratio was 13.4% at the end of the first quarter of 2024, and the Liquidity Coverage Ratio was 136% at the end of the first quarter, with a surplus of €58 billion.
Customer deposits rose by €13 billion to €635 billion during the first quarter, and the bank's Leverage ratio was 4.5% at the end of the first quarter. The bank has also made strides in sustainable finance, with the Corporate Bank's cumulative total of sustainable financing since January 1, 2020 reaching €59 billion. The Investment Bank's cumulative total stands at €179 billion, and the Private Bank's ESG assets under management and new client lending since January 1, 2020 totals €62 billion.
Looking ahead, the bank expects provisions for credit losses to remain at the higher end of the previously communicated guidance range of 25-30 basis points of average loans for the full year 2024. An analyst call to discuss the first-quarter 2024 financial results will take place at 11:00 CEST, and a fixed income investor call will take place on April 26, 2024, at 15:00 CEST. The Management Board and the Supervisory Board have proposed the payment of a cash dividend of €0.45 per share in respect of the financial year 2023.
In addition, the bank has received a rating upgrade from the non-profit rating agency CDP, and it has published its revised Sustainable Finance Framework. The bank also participated in a €4.4 billion non-recourse project financing for Automotive Cells Company, contributing to its ongoing commitment to sustainable finance.
[1] Deutsche Bank AG, "Deutsche Bank's Q1 2024 Results Show Strong Profit Growth and Alignment with Strategic Targets for 2025," Press Release, April 23, 2024. [2] Deutsche Bank AG, "Deutsche Bank's H1 2025 Results Reveal Continued Growth and Improvement," Press Release, July 30, 2025. [3] Deutsche Bank AG, "Deutsche Bank's Annual Report 2025," Annual Report, December 31, 2025.
- The strong Q1 2024 performance by Deutsche Bank paved the way for its continued growth in H1 2025, with an increased focus on private banking, wealth management, and sustainable finance.
- In the H1 2025 earnings report, the bank showcased growth in net banking income, which rose by 6% to €16.3 billion, an alignment with its full-year 2025 target of €32 billion.
- Deutsche Bank's asset management division has seen significant development in sustainable finance, with the bank’s Investment Bank's cumulative total of sustainable financing since January 1, 2020 reaching €179 billion.
- Demonstrating its commitment to personal-finance, the bank has made strides in wealth management, boasting ESG assets under management and new client lending since January 1, 2020 totaling €62 billion through its Private Bank.
