Deutsche Bank (DBK) Goldman Sachs 30th Annual European Financials Conference 2026 summary

Macro environment and business performance

• Market volatility persisted into Q2, but the environment has become more constructive, with inflationary pressures managed well and diversified business mix supporting performance.

• European focus on sovereignty and defense spending is driving productive activity, especially in Germany, despite slower-than-expected GDP growth.

• Diversification across regions and business lines has enabled resilience, with clients remaining active and not sidelined.

Private bank and asset management

• Private bank achieved record AUM, with strong inflows into discretionary portfolio management and custody, and is on track toward a €1 trillion client asset target.

• Nearly 100 new advisors onboarded in six months, expected to drive continued year-over-year revenue growth.

• Asset management saw organic flows despite unfavorable market impacts, with management fees expected to remain strong but performance fees normalizing in Q2.

Corporate bank and investment bank outlook

• Corporate bank expects sequential and year-over-year revenue growth in H2, with deposit, fee, and loan growth above 5% and 8% respectively, despite FX and rate headwinds.

• Investment bank (IBCM) is seeing healthy pipelines in ECM, DCM, and M&A, with FIC showing resilience and market share gains, supported by a diversified platform.