DB - Deutsche Bank reports significant profit growth in Q1 2021

Deutsche Bank (DB): Q1 GAAP EPS of €0.47.Profit before tax of €1.59B compared to 206M in Q1 2020.Net profit of €1B vs. 43M in prior year.Revenue of €7.23B (+13.9% Y/Y) beats by €650M.CET1 ratio of 13.7% vs. estimate of 13.3%Financial targets for 2022: Post-tax Return on Average Tangible Shareholders’ Equity of 8% for the Group and above 9% for Core Bank.Group and Core Bank revenues are expected to be essentially flat compared to the prior year.DB remains committed to maintain CET 1 ratio above 12.5%.Cost income ratio of 70%; Leverage ratio (fully loaded) of ~4.5 %.Press Release

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Deutsche Bank reports significant profit growth in Q1 2021