Deutsche Bank: H1 pre-tax profit of E2.4 bn
(CercleFinance.com) - Net sales amounted to E7.
6bn in Q2, up 2% on Q2 2023. H1 net sales were up 2% to E15.4bn.
Deutsche Bank has announced a pre-tax profit of E411m for Q2 2024, or E1.7bn excluding the E1.3bn provision previously announced for litigation related to the Postbank takeover.
This compares with pre-tax earnings of E1.4bn in Q2 2023. Profit after tax amounted to E52m, a fraction of E940m in the same quarter of the previous year.
H1 2024 pre-tax profit amounted to E2.4bn, or E3.8bn excluding the provision for Postbank litigation, compared with pre-tax profit of E3.3bn in H1 2023.
Profit after tax amounted to E1.5bn, compared with E2.3bn in the same period of the previous year.
RoTE after tax was 3.9%, or 7.8% excluding the Postbank litigation provision, compared with a RoTE of 6.8% in the corresponding period last year.
Looking ahead, we expect continued earnings momentum as our strategic growth investments bear fruit. We also see further opportunities for adjusted cost savings as our operational efficiency program progresses and we continue to put restructuring costs behind us and resolve litigation' said James von Moltke, CFO.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
6bn in Q2, up 2% on Q2 2023. H1 net sales were up 2% to E15.4bn.
Deutsche Bank has announced a pre-tax profit of E411m for Q2 2024, or E1.7bn excluding the E1.3bn provision previously announced for litigation related to the Postbank takeover.
This compares with pre-tax earnings of E1.4bn in Q2 2023. Profit after tax amounted to E52m, a fraction of E940m in the same quarter of the previous year.
H1 2024 pre-tax profit amounted to E2.4bn, or E3.8bn excluding the provision for Postbank litigation, compared with pre-tax profit of E3.3bn in H1 2023.
Profit after tax amounted to E1.5bn, compared with E2.3bn in the same period of the previous year.
RoTE after tax was 3.9%, or 7.8% excluding the Postbank litigation provision, compared with a RoTE of 6.8% in the corresponding period last year.
Looking ahead, we expect continued earnings momentum as our strategic growth investments bear fruit. We also see further opportunities for adjusted cost savings as our operational efficiency program progresses and we continue to put restructuring costs behind us and resolve litigation' said James von Moltke, CFO.
Copyright (c) 2024 CercleFinance.com. All rights reserved.