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Deutsche Bank AG - Stock Quote DBK

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Morningstar's Deutsche Bank AG Stock Analysis

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Economic Moat


Capital Allocation


Good First Quarter for Deutsche Bank

Niklas Kammer, CFA Equity Analyst

Analyst Note

| Niklas Kammer, CFA |

No-moat Deutsche Bank reported first-quarter profits before tax of EUR 1,658 million, up 4% versus the same period a year ago on an overall strong showing. Revenue was up only 1%, dragged down by a EUR 353 million negative revenue in corporate and other, but performance across its operating segments was good. The corporate bank took the lead with another strong quarter (up 11%), followed by an above-our-expectations showing in the investment bank (up 7%) and asset management (up 7%). We maintain our fair value estimate of EUR 11 per share.

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Deutsche Bank AG's Company Profile

Business Description

In July 2019, Deutsche Bank announced another restructuring plan hoping to revitalize revenue, reduce costs, and return to profitability. The largest moving pieces of the new plan is the full exit of global equity sales & trading, the scaling back of its fixed income business, as well as 18,000 FTE reductions until 2022. The remaining core business segments include private banking, corporate banking, asset management, and investment banking.

Taunusanlage 12
Frankfurt am Main, HE, 60325, Germany
T +49 6991000
Sector Financial Services
Industry Banks - Regional
Most Recent Earnings Mar 31, 2022
Fiscal Year End Dec 31, 2022
Stock Type
Employees 83,000