DB - Deutsche Bank AG (DB) Q1 2024 Earnings Call Transcript
2024-04-25 09:38:02 ET
Deutsche Bank AG (DB)
Q1 2024 Earnings Conference Call
April 25, 2024, 05:00 ET
Company Participants
Ioana Patriniche - Head, IR
Christian Sewing - CEO & Chairman
James von Moltke - President & CFO
Conference Call Participants
Kian Abouhossein - JPMorgan Chase & Co.
Anke Reingen - RBC Capital Markets
Nicolas Payen - Kepler Cheuvreux
Chris Hallam - Goldman Sachs Group
Jeremy Sigee - BNP Paribas Exane
Thomas Hallett - KBW
Giulia Miotto - Morgan Stanley
Andrew Coombs - Citigroup
Stefan Stalmann - Autonomous
Presentation
Operator
Ladies and gentlemen, welcome to the Q1 2024 Analyst Conference Call and Live Webcast. I'm Morita, Chorus Call operator. [Operator Instructions].
At this time, it's my pleasure to hand over to Ioana Patriniche, Head of Investor Relations. Please go ahead.
Ioana Patriniche
Thank you for joining us for our first quarter 2024 results call. As usual, our Chief Executive Officer, Christian Sewing, will speak first; followed by our Chief Financial Officer, James von Moltke. The presentation always is available to download in the Investor Relations section of our website, db.com.
Before we get started, let me just remind you that the presentation contains forward-looking statements, which may not develop as we currently expect. We therefore ask you to take notice of the precautionary warning at the end of our materials.
With that, let me hand over to Christian.
Christian Sewing
Thank you, Ioana, and a warm welcome from me. I'm delighted to be discussing our first quarter results with you today. In February, we laid out a clear path to our 2025 objectives for financial performance and capital distributions, and we have delivered in line with our objectives and targets.
Group revenues were €7.8 billion. This reflects business growth and franchise momentum, particularly in areas where we have been investing like our capital-light businesses, while net interest income was more resilient than expected. This performance underlines the benefit of our complementary business mix. We are delivering on our cost targets. Adjusted costs were in line with our commitment to a quarterly run rate of around €5 billion for this year. ...
Deutsche Bank AG (DB) Q1 2024 Earnings Call Transcript