Deutsche Bank’s private banking arm reported profit before tax of €681m in the first quarter of 2026, rising 39% from €489m a year earlier.
Net revenues in the division increased 5% to €2.56bn from €2.44bn.
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Assets under management climbed to €694bn as of 31 March 2026, up 10% from €632bn in the same period of 2025.
Net flows almost doubled to €11bn, a 95% increase from €6bn a year earlier.
Elsewhere in the group, the asset management division posted profit before tax of €279m for the three months ended 31 March 2026, up 37% from €204m in the prior-year period.
Net revenues rose 10% to €802m from €730m. Assets under management reached €1.09bn from €1.01bn in March last year, while net flows fell to €11bn, down 45% from €20bn.
In investment banking, net revenues were €3.37bn, broadly unchanged from the same quarter last year. Profit before tax declined 7% to €1.44bn from €1.54bn.
At group level, Deutsche Bank reported net revenues of €8.67bn, up 2% year on year.
Credit loss provisions totalled €519m, a 10% increase versus 2025. Profit before tax rose 7% to €3.04bn, and total profit increased 8% to €2.17bn.
Deutsche BankCEO Christian Sewing said: “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. The three strategic levers of focused growth, scalable operating model and disciplined capital management support our ability to deliver long-term value for shareholders and our ambition to be the European Champion.”
