A rise in revenues and cost drop helped the German lender report sharply improved profit results for the first quarter of 2026.

Deutsche Bank today reported private banking pre-tax profit in the first quarter of 2026 of €681 million ($796 million), a 39 per cent rise. Net revenues in this business segment rose 5 per cent to €2.567 billion; noninterest costs fell 2 per cent to €1.708 billion.

The Frankfurt-listed bank said the cost/income ratio of its private banking arm narrowed over the 12-month period to 66.5 per cent. 

Assets under management rose 10 per cent year-over-year to €694 billion, helped by a near doubling of net flows to €11 billion. 

After tax, return on average tangible shareholders’ equity rose to 12.8 per cent from 8.3 per cent in this division.  

Provision for credit losses dropped by 18 per cent year-on-year to €179 million.

“This quarter’s record profit gives us a great start on the next phase of our strategy. We delivered business growth in focus areas and funded investments through operating efficiencies. We also maintained our strong capital base while simultaneously committing to raise rewards for shareholders. We have the balance sheet strength, the capabilities and the strategic positioning to serve our clients globally in a dynamic environment,” Christian Sewing, Deutsche’s CEO, said in a statement.

Group results
Across all divisions, Deutsche Bank said it logged a pre-tax profit of €3.041 billion in Q1, a rise of 7 per cent on a 2 per cent revenue rise, with noninterest costs falling 2 per cent. 

The group had a Common Equity Tier 1 ratio – a standard internal measure of a bank’s capital shock absorber – of 13.8 per cent.

Since the start of 2026, shares in Deutsche have fallen 18.7 per cent.