Deutsche Bank achieved an impressive pre-tax profit of €2.8 billion in the first quarter of 2025 – an increase of 39% compared to the previous year and the best quarterly result in 14 years. These figures are the result of the successful implementation of the “Global Banking” strategy and mark a turning point in the company’s recent history.
Key Figures
Revenues increased by 10% to €8.5 billion, keeping the bank on track to meet its annual target of around €32 billion. Non-interest expenses fell by 2% to €5.2 billion, resulting in an improved cost-income ratio of 61%–61.2%. The return on tangible equity (RoTE) was 11.9%, significantly above the target range of ≥10%, while the common equity tier 1 (CET1) ratio showed a solid capital base at 13.8%.
Drivers of Success
The performance was supported by all four business areas. The retail banking segment recorded net inflows of €26 billion, bolstered by its status as “Germany’s favorite bank.” Stage-3 risk provisions fell by almost 30% annually, while stage-1/2 provisions were moderately increased due to macroeconomic uncertainties.
Capital Returns and Market Reaction
The bank intensified its share buybacks with a volume of over 833,540 of its own shares, underscoring confidence in equity returns. Analysts assess the results as evidence of sustainable profitability growth compared to U.S. banks.
Outlook
CFO James von Moltke emphasized the “ongoing cost discipline” and referred to the unchanged annual revenue target as well as further growth potential due to interest decisions by the ECB and market volatility in investment banking.