26.04.2020 Deutsche Bank AG  DE0005140008

DGAP-Adhoc: Deutsche Bank announces results for the first quarter 2020 above market expectations. Outlook for full year 2020 updated


DGAP-Ad-hoc: Deutsche Bank AG / Key word(s): Quarter Results/Forecast
Deutsche Bank announces results for the first quarter 2020 above market expectations. Outlook for full year 2020 updated

26-Apr-2020 / 23:35 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

Frankfurt am Main, April 26, 2020 - Deutsche Bank expects to report group profit before tax of 206 million euros and net income of 66 million euros, above market expectations.

Revenues are expected to be 6.4 billion euros with noninterest expenses of 5.6 billion euros, including contributions to the Single Resolution Fund of 0.5 billion euros. Provisions for credit losses are expected to be 0.5 billion euros, or 44 basis points of loans. Consensus estimates showed a wide range around each of these results.

Deutsche Bank's Common Equity Tier 1 (CET1) ratio was 12.8% at quarter-end, down from 13.6% at year-end. The decline in the CET1 ratio in the quarter included approximately a 30 basis points negative impact from the revised securitization framework and approximately 40 basis points of items precipitated by the COVID-19 pandemic.

Full details of Deutsche Bank's first quarter results will be disclosed as planned on April 29, 2020. Results are prepared in accordance with IFRS as adopted by the EU.

Updates to 2020 financial targets

In anticipation of business opportunities and elevated client demand and in light of the current macroeconomic environment, Deutsche Bank is reviewing its 2020 CET1 and leverage ratio targets.

The bank's CET1 ratio of 12.8% at quarter end was approximately 240 basis points above its current pillar 2 regulatory requirement. This has been lowered from 11.6% at 1 January 2020 to 10.4% following the ECB's early implementation of CRD V Article 104(a) and the reduction of the Counter-Cyclical Capital Buffer. A reduction in capital requirements reduces the level below which the bank would be required to calculate a Maximum Distributable Amount (MDA). The MDA is used to determine restrictions on distributions on CET 1 capital and Additional Tier 1 instruments.

The short-term implications of the COVID-19 pandemic make it difficult for the bank to accurately reflect the timing and the magnitude of changes to its original capital plan. Deutsche Bank's priority is to stand by its clients without compromising on capital strength. It is therefore possible that the bank will fall modestly and temporarily below its previous CET1 target of at least 12.5%. Deutsche Bank remains committed to maintaining a significant buffer above its regulatory requirements at all times.

This revised outlook acknowledges that credit extension to support clients at this time could increase risk weighted assets for several quarters. In addition, there are a series of pending and proposed regulatory adjustments which could improve the bank's reported CET1 ratio.

This potential additional balance sheet growth also means that the bank is unlikely to reach its 2020 fully-loaded leverage ratio target of 4.5%, absent regulatory adjustments to the leverage ratio calculation which may increase the banks reported ratio.

Given the temporary nature of the aforementioned capital items, the bank will continue to work towards its 2022 targets of a 12.5% CET1 ratio target and 5% leverage ratio.

Deutsche Bank reaffirms its other financial targets, including for 2020 adjusted costs excluding transformation charges and reimbursable expenses associated with the transfer of the Prime Finance platform to BNP Paribas of 19.5 billion euros.

Sebastian Krämer-Bach
Global Head of External Communications
Phone: +49 69 910 43330
Email: [email protected]


Deutsche Bank AG
Taunusanlage 12
60325 Frankfurt am Main
ISIN: DE0005140008
WKN: 514000

Listed: Regulated market in Berlin-Bremen, Duesseldorf, Frankfurt (Prime Standard), Hamburg, Hanover, Munich und Stuttgart; EUREX; NYSE

The International Securities Identification Numbers (ISINs) of further financial instruments issued by Deutsche Bank AG, and admitted to trading on a domestic organized market or for which such admission has been applied for, are listed in the attached PDFs.

26-Apr-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language: English
Company: Deutsche Bank AG
Taunusanlage 12
60325 Frankfurt a. M.
Phone: +49 (0)69 910-00
Fax: +49 (0)69 910-43800
E-mail: [email protected]
Internet: www.db.com
ISIN: DE0005140008
WKN: 514000
Indices: DAX, EURO STOXX 50
Listed: Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime Standard), Hamburg, Hanover, Munich, Stuttgart; Regulated Unofficial Market in Tradegate Exchange; NYSE
EQS News ID: 1029877

End of Announcement DGAP News Service

1029877  26-Apr-2020 CET/CEST


Die wichtigsten Finanzdaten auf einen Blick
  2016 2017 2018 2019 2020 2021 2022
Umsatzerlöse1 30.014,00 26.447,00 25.316,00 23.165,00 24.028,00 25.410,00 27.210,00
EBITDA1,2 -810,00 1.228,00 1.330,00 -2.634,00 1.021,00 3.390,00 5.594,00
EBITDA-Marge3 -2,70 4,64 5,25 -11,37 4,25 13,34 20,56
EBIT1,4 -810,00 1.228,00 1.330,00 -2.634,00 1.021,00 3.390,00 5.594,00
EBIT-Marge5 -2,70 4,64 5,25 -11,37 4,25 13,34 20,56
Jahresüberschuss1 -1.356,00 -735,00 341,00 -5.265,00 624,00 2.510,00 5.659,00
Netto-Marge6 -4,52 -2,78 1,35 -22,73 2,60 9,88 20,80
Cashflow1,7 70.610,00 39.576,00 -54.066,00 -40.449,00 30.736,00 -2.952,00 -2.113,00
Ergebnis je Aktie8 -0,81 -0,53 -0,01 -2,71 0,07 0,93 2,37
Dividende8 0,19 0,11 0,11 0,00 0,00 0,20 0,30
Quelle: boersengefluester.de und Firmenangaben

  Geschäftsbericht 2022 - Kostenfrei herunterladen.  
1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de

Wirtschaftsprüfer: Ernst & Young

Deutsche Bank
WKN Kurs in € Einschätzung Börsenwert in Mio. €
514000 11,272 Halten 22.997,62
KGV 2024e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
8,05 12,94 0,60 -25,41
0,37 - 0,85 4,11
Dividende '22 in € Dividende '23e in € Div.-Rendite '23e
in %
0,30 0,33 2,93 16.05.2024
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
25.04.2024 26.07.2023 25.10.2023 14.03.2024
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
9,09% 12,33% 6,46% 11,36%
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Banken , 514000 , DBK , XETR:DBK