The following is a summary of the Deutsche Bank AG (DB) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Deutsche Bank reported Q1 revenues of €7.8 billion reflecting strong business growth.

• Return on tangible equity increased to 8.7% this quarter from 8.3% in Q1 of the previous year.

• Profit before tax increased 10% year-on-year to €2 billion.

• The bank's CET1 ratio stood at 13.4%, allowing distributions increase through shareholders and supporting business growth.

• The bank has seen a reduction in risk-weighted assets by €11 billion since the prior year quarter.

• Deutsche Bank aims for a revenue of €30 billion in 2024 and maintain a quarterly run rate of around €5 billion of adjusted costs.

Business Progress:

• Deutsche Bank saw a 5% increase in deals won with multinational corporate clients compared to the prior year quarter.

• Their Investment Bank's origination and advisory market share increased by 70 basis points compared to full year 2023.

• The Private Bank saw €12 billion of net inflows in the first quarter, showing substantial increase in the number of assets under management.

• The bank is planning to further invest and optimize their loan portfolio in the commercial real estate sector.

• The bank is also planning to reduce its run rate modestly over the next seven quarters building on the year-on-year cost reduction seen this quarter.

• Deutsche Bank aims to further integrate its investment business into the more Private Bank and Retail Bank business, looking forward.

More details: Deutsche Bank IR

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