Deutsche Bank (DBK) Q2 2026 Pre recorded earnings summary

Executive summary

• Achieved record H1 2026 post-tax profit of €4.1 billion, with strong revenue momentum across all business segments and disciplined strategy execution.

• Announced a new €500 million share buyback from 2026 net income, reflecting robust capital position and confidence in future targets.

• All divisions delivered returns on tangible equity of 12% or higher, with group ROTE at 11.9% for H1.

• Strategic actions included the sale of the Private Bank's India franchise, completion of planned branch closures, and targeted investments in technology and operating model simplification.

• Increased sustainable and transition finance volumes, with €52 billion in H1 2026 and cumulative €523 billion since 2020.

Financial highlights

• Net revenues for Q2 2026 were €8.5 billion, up 9% year-on-year; H1 2026 revenues reached €17.2 billion, up 5% year-on-year.

• Profit before tax for H1 2026 was €5.7 billion, up 9% year-on-year; Q2 profit before tax was €2.7 billion, up 11%.

• Cost/income ratio improved to 60.9% for H1 and 63.0% for Q2, progressing toward the sub-60% FY 2028 target.

• CET1 capital ratio stood at 13.9%, up 11bps from Q1, within the 13.5–14.0% operating range.

• Assets under management grew by 16% year-on-year to over €1.9 trillion, with record inflows of €56 billion in H1.

Outlook and guidance

• On track to deliver full-year 2026 revenue ambition of ~€33 billion, with further growth expected in NII and fee income.

• Confident in achieving 2026 objectives and 2028 targets, supported by structural reforms, AI adoption, and regulatory changes.

• Noninterest expenses for 2026 expected slightly above €21 billion, reflecting incremental investments.

• CET1 ratio expected between 13.5% and 14.0% by year-end 2026.

• Underlying provision for credit losses expected to reduce slightly year-on-year, with continued targeted de-risking actions.