Deutsche Bank reported its first quarter 2025 earnings on Tuesday, recording profit before tax of €2.8 billion, which was a surge of 39% from the corresponding quarter last year.
Net profit was €2bn, which was also an increase of 39% on an annual basis.
Net revenues advanced 10% on an annual basis in the first quarter of the year to €8.5bn, with adjusted costs also edging up 2% to €5.1bn. Adjusted costs included increased benefits expenses and higher compensation, mainly because of a rise in equity-based compensation.
Christian Sewing, chief executive officer (CEO) at Deutsche Bank, said: “We are very happy with first-quarter results which put us on track for delivery on all our 2025 targets. Our best quarterly profit for fourteen years, achieved through revenue growth combined with lower costs, demonstrates that our Global Hausbank strategy is working well.
“This puts us in a very strong position to support our clients through a fast-changing geopolitical and macro-economic environment.”
The corporate bank division grew 3% to €632m, while the investment banking branch rose 22% to €1.5bn. The private banking arm soared 43% to €490m, with the asset management division surging 67% to €204m.
James von Moltke, chief financial officer at Deutsche Bank, said: “In the first quarter 2025, we delivered strong earnings momentum through double-digit revenue growth and continued cost discipline, as we reap the benefits from consistent strategy execution.
“Our strong balance sheet across all metrics positions us well to navigate through unsettled markets and gives us a firm foundation from which to raise Deutsche Bank’s profitability to the next level over the coming years.”
