One of the first big continental European lenders to report its Q1 2025 financial figures, the results showed private banking and wealth businesses making progress, it said.

Private bank net revenues in the first quarter of 2025, at €2.4 billion ($2.73 billion), rose 3 per cent year-on-year, Deutsche Bank announced yesterday.

Pre-tax profit at the private bank rose 43 per cent to € 490 million, it said in a statement.

Noninterest revenues at the private banking side of the Frankfurt-listed lender rose, driven by what it called “strong growth in investment product revenues in line with strategy.” Net commissions and fee income grew 5 per cent to €832 million, while net interest income gained 2 per cent to €1.5 billion.

Deutsche said revenues in its personal banking business dipped by 2 per cent on a year earlier to € 1.3 billion. Growth in investment products and deposit revenues was more than offset by lower lending revenues. 

Across all of wealth management and private banking, revenues grew 8 per cent to €1.1 billion, driven by growth in investment product revenues.

Assets under management were €632 billion at the end of the quarter, as net inflows of €6 billion were offset by €8 billion in negative impacts from market developments and foreign currency movements.

Group results
Across the whole of Deutsche Bank’s divisions, the lender said it logged pre-tax profit of €2.8 billion, rising 39 per cent over first quarter of 2024.

Deutsche said it had a Common Equity Tier 1 (CET1) capital ratio unchanged at 13.8 per cent.