Deutsche Bank announces results for the first quarter 2020
Frankfurt am Main, April 26, 2020 – Deutsche Bank expects to report group profit before tax of 206 million euros and net income of 66 million euros, above market expectations.
Revenues are expected to be 6.4 billion euros with noninterest expenses of 5.6 billion euros, including contributions to the Single Resolution Fund of 0.5 billion euros. Provisions for credit losses are expected to be 0.5 billion euros, or 44 basis points of loans. Consensus estimates showed a wide range around each of these results.
Deutsche Bank’s Common Equity Tier 1 (CET1) ratio was 12.8% at quarter-end, down from 13.6% at year-end. The decline in the CET1 ratio in the quarter included approximately a 30 basis points negative impact from the revised securitization framework and approximately 40 basis points of items precipitated by the COVID-19 pandemic.
Full details of Deutsche Bank’s first quarter results will be disclosed as planned on April 29, 2020. Results are prepared in accordance with IFRS as adopted by the EU.
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