DB - Deutsche Bank reports Q2 results re-affirms FY22 guidance

• Deutsche Bank press release ( NYSE: DB ): Q2 net profit of €1.2B, up 46% Y/Y.
• Profit before tax of € 1.5 billion, its highest second-quarter profit since 2011.
• Revenue of €6.65B (+6.6% Y/Y).
• Corporate Bank up 26% year on year to €1.6 billion
• Investment Bank up 11% to €2.6 billion
• Private Bank up 7% to €2.2 billion
• Asset Management up 5% to €656 million
• Common Equity Tier 1 (CET1) ratio of 13.0%, up from 12.8% in the first quarter
• Guidance: Deutsche Bank reaffirms 2022 revenue guidance of € 26-27 billion despite the deterioration in the macro-economic environment seen in the second quarter and expectations for a more challenging second half of the year.
• The bank continues to target a post-tax RoTE1 of 8% (Group) and above 9% (Core Bank) for the year 2022, while recognising that the current operating environment makes delivery on these targets more challenging
• The bank’s guidance is now for a cost/income ratio in the mid- to low-70s percent for 2022 Deutsche Bank confirms all other 2022 financial targets including a CET1 capital ratio of above 12.5% and a leverage ratio of around 4.5%.

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