DB - Deutsche Bank Q2 profit falls 27% jump in costs reaffirms FY23 guidance

2023-07-26 03:41:11 ET

• Deutsche Bank press release ( NYSE: DB ) posted on Wednesday a 27% fall in Q2 profit, the net profit attributable to shareholders was €763 million, down from €1.046 billion a year earlier.
• However, Q2 non-interest expenses rose 15% Y/Y to €5.6 billion, with adjusted costs up 4% to €4.9 billion.
• GAAP EPS of €0.19.
• Revenue of €7.4B (+11.3% Y/Y).
• Post-tax profit of €940 million.
• Post-tax RoTE of 5.4%, cost/income ratio of 76%.
• Common Equity Tier 1 ratio of 13.8%.
• Deposits rise by €1 billion to €593 billion.
• Liquidity coverage ratio of 137%, a surplus of €55 billion.
• 2023 share buybacks approved and capital distribution goals reaffirmed: €450 million repurchase programme through year-end 2023; Total anticipated capital distributions of €1.75 billion over 2022-23.
• Deutsche Bank reaffirmed its capital objectives of €8 billion in capital distributions for the financial years 2021-2025; 50% dividend growth per year in respect of the financial years 2022-2024, and a 50% payout ratio from 2025.

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