Deutsche Bank Private Bank reported revenues of €2.4bn in Q1 2023, a 10% rise year-on-year.

This increase was attributed to strong net interest income.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Furthermore, Private Bank Germany saw revenues up 14% year-on-year and International Private Bank witnessed an increase of 3% for the same thing over the same time period.

Net inflows were €6bn during the quarter, driven by inflows into investment products. Assets under management grew by €13bn to €531bn in Q1 2023 for Deutsche Bank, reversing the drop of the previous quarter, driven by net inflows into investment products and rising market levels

Deutsche Bank in Q1 2023

Profit before tax for the group reached €1.9bn in Q1 2023, the highest quarter since 2013 and a 12% rise year-on-year.

In addition, net revenues grew 5% to €7.7bn year-on-year.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Christian Sewing, chief executive, said: “Our first quarter results demonstrate the relevance of our Global Hausbank strategy to our clients and underscore that we are well on track to meeting or exceeding our 2025 targets.

“We aim to accelerate execution of our strategy through a number of measures announced today: raising our ambitions for operational efficiency, boosting capital efficiency to drive returns and support shareholder distributions, and seizing opportunities to outperform on our revenue growth targets. Strong organic capital generation enables us to re-affirm our commitment to distributions and we are preparing to conduct further share buybacks later this year.”

“In the first quarter, we again proved the strength and resilience of Deutsche Bank in challenging conditions,” added James von Moltke, chief financial officer. “We have delivered well-balanced earnings and growth momentum across four complementary businesses, attracted inflows into investment products and demonstrated balance sheet strength. Our capital and liquidity ratios were stable or improved during the quarter, each significantly ahead of regulatory requirements, and we benefited from the resilience of our funding base, anchored by our strong and well-diversified deposit base.”