Bulletin: Deutsche Bank's Second-Quarter Results Are Solid Amid Economic and Geopolitical Pressure

LONDON (S&P Global Ratings) July 27, 2022--S&P Global Ratings said today that Deutsche Bank AG (A-/Stable/A-2) performed resiliently in the second quarter (Q2) of 2022, but its results also showed signs of the weakening operating environment (see "Bulletin: Geopolitical Risks Add Headwinds For German Banks, Despite Robust Capitalization, " published July 19, 2022). The bank's 8.0% return on tangible equity (RoTE) in the first half (H1) of the year was in line with its full year target, but it acknowledged that sustaining this level will be difficult as the global economy slows in the second half of 2022. Still, our overall takeaway from the results is that Deutsche Bank continues to make progress in strengthening its earnings and franchise and

...July 27, 2022 LONDON (S&P Global Ratings) July 27, 2022--S&P Global Ratings said today that Deutsche Bank AG (A-/Stable/A-2) performed resiliently in the second quarter (Q2) of 2022, but its results also showed signs of the weakening operating environment (see "Bulletin: Geopolitical Risks Add Headwinds For German Banks, Despite Robust Capitalization, " published July 19, 2022). The bank's 8.0% return on tangible equity (RoTE) in the first half (H1) of the year was in line with its full year target, but it acknowledged that sustaining this level will be difficult as the global economy slows in the second half of 2022. Still, our overall takeaway from the results is that Deutsche Bank continues to make progress in strengthening its earnings and franchise and closing the gap to peers. Deutsche Bank's 1.5 billion pretax profit and 7.9% RoTE in Q2 exceeded the company-compiled analyst consensus, through stronger revenues and a lower credit loss charge. Revenues grew across all customer-facing...

Bulletin