Adrian Durham

Guten Abend from Frankfurt, where we released our latest financial results this morning. The past three months have brought many highlights for our bank. We opened our new flagship building in London, hosted a series of successful client conferences and won several prestigious awards. Just last week, Euromoney named us the world’s best bank for corporates. This is recognition of the hard work we do to serve our clients. It’s also a reminder to keep pushing to do better for clients and their lasting success.   We managed a strong operating performance in the first six months of 2024. Despite a previously announced litigation provision related to the takeover of Postbank 14 years ago, our net revenues rose 2% to €15.4bn, costs were lowered, Common Equity Tier 1 (CET1) capital ratio rose to 13.5% and, adjusted for the provision, profit before tax was €3.8bn compared to €3.3bn in the first half of 2023 – our best result in 13 years. I’m proud of the powerful momentum we’ve built across all our businesses. I would like to thank our clients for their trust, as well as my colleagues at Deutsche Bank, and of course our shareholders. They, like we, may have been disappointed by the share price reaction. But we are convinced of the long-term view, based on our track record of delivery over the past five years. We completed our €675m share buyback programme earlier this month and remain very confident that we can exceed our goal of returning €8bn to shareholders for the years 2021-2025. We are on track to achieve the targets we set ourselves for 2025, which will mean further revenue growth with continued discipline on capital and costs. Each step towards greater efficiency brings with it opportunities to invest in our business and growth, in technology and in our people.   And I look forward to working towards all of this in the second half of the year! #Banking #FinancialResults #DeutscheBank #DBResults

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