Deutsche Bank presteert boven verwachting

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Deutsche Bank presteert boven verwachting

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Door ABM Financial News

op woensdag 28 juli 2021

[verwijderd] 28 juli 2021 08:11

[verwijderd]

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Deutsche Bank reports profit before tax of € 1.2 billion in
the second quarter of 2021
Net income of € 828 million with post-tax return on tangible equity (RoTE)1 of 5.5%
Transformation drives second-quarter profit growth
• Core Bank: profit before tax rises 90% to € 1.4 billion
o Post-tax RoTE1 of 7.8% with cost/income ratio1 of 76%
• Capital Release Unit reduces quarterly loss before tax by 56% to € 258 million
Net revenues of €6.2 billion, down 1% as markets normalise in second quarter
Further progress on costs in the quarter
• Noninterest expenses down 7% year on year to € 5.0 billion
• Adjusted costs ex-transformation charges1 of € 4.6 billion, down 6%
Continued capital, balance sheet and risk discipline
• Common Equity Tier 1 (CET1) ratio of 13.2%, down from 13.7% quarter on quarter,
reflecting anticipated regulatory effects on risk weighted assets (RWAs)
• Provision for credit losses of € 75 million, down 90% year on year
• Capital Release Unit further reduces RWAs to € 32 billion, in line with end-2022
target, and cuts leverage exposure by € 10 billion to € 71 billion
Business growth includes record net inflows of € 27 billion into investment products
• Asset Management: record net inflows of € 20 billion help lift Assets under
Management by € 39 billion to € 859 billion
• Private Bank: net new business volumes of € 14 billion include net inflows into
investment products of € 7 billion
Sustainability: outperformance driven by a record quarter
• Record quarterly ESG financing and investment volumes of € 27 billion
• Cumulative volumes rise to € 99 billion, on path to end-2023 target of € 200+ billion
First half-year 2021: progress toward 2022 ambitions
• Net revenues up 7% to € 13.5 billion year on year
• Provision for credit losses down 89% to € 144 million, or 7 basis points of loans
• Adjusted costs ex-transformation charges and reimbursable expenses related to
Prime Finance1 down 4% to € 9.8 billion
• Group profit before tax of € 2.8 billion, up seven-fold, with net profit of € 1.9 billion
o Post-tax RoTE1 of 6.5% with cost/income ratio reduced to 78%
• Core Bank profit before tax of € 3.4 billion, up 99% o Post-tax RoTE1 of 9.3%, in line with 2022 target, and cost/income ratio of 73%

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