Deutsche Bank Posts Record Q3 Post-Tax Profit of €1.9 Billion as Revenue Rises 4% to €8.3 Billion

Deutsche Bank on Wednesday reported a post-tax profit of €1.9 billion for the third quarter of 2026, which the Frankfurt-based lender described as its third consecutive quarter of record profits. Profit before tax rose 8% from a year earlier to €2.6 billion, while net revenues climbed 4% to €8.3 billion.

Noninterest expenses were unchanged year on year at €5.2 billion, bringing the cost/income ratio down to 62.4% from 64.4% in the same quarter of 2025. Diluted earnings per share rose 6% to €0.94. Return on tangible equity came in at 10.6%, against 10.7% a year earlier, a period the bank said had benefited from favourable tax effects.

Provisions for credit losses reached €501 million, up 9% from the previous quarter. The bank said the figure included further de-risking of its commercial real estate portfolio and an idiosyncratic event in its Corporate Bank, which it described in its outlook as a Q3 event in Asia.

Newsquawk put analysts’ expectations at €2.45 billion for pretax profit and €8.21 billion for revenue, meaning both figures came in ahead of consensus.

Divisional performance

The Corporate Bank posted record revenues, with return on tangible equity rising to 17.6%. Its loans grew €10 billion, or 8%, from a year earlier, while deposits rose €41 billion, or 13%.

Investment Bank revenues were essentially stable against a record prior-year quarter. Fixed income and currencies revenues of €2.4 billion were lower year on year, as financing grew by double digits but markets revenue fell short of a very strong credit trading performance a year earlier. Origination and advisory revenues held steady at €507 million.

In the Private Bank, net commission and fee income rose 13% and net interest income 9%, with client assets reaching €865 billion after €17 billion of net inflows in the quarter. Asset Management lifted management fees by 14% and drew record third-quarter inflows of €31 billion, taking its assets under management above €1.2 trillion.

“We are growing, particularly where we want to grow,” Chief Executive Christian Sewing said on the earnings call, according to an Investing.com transcript.

Capital and payouts

The bank’s common equity tier 1 ratio stood at 14.0%, which it said was at the high end of its operating range. It has completed its second share buyback of the year, bringing 2026 buybacks to €1.5 billion, and said capital deductions remain in line with its 60% payout ratio target.

For the first nine months, post-tax profit rose 7% to a record €5.9 billion, pretax profit grew 8% to €8.4 billion and revenues increased 5% to €25.5 billion.

What’s next

Deutsche Bank reiterated a full-year 2026 revenue ambition of above €33 billion, with expenses expected in line with plan. According to the Investing.com report of the call, management guided total 2026 expenses of about €21.3 billion and expects net interest income across key banking book segments to slightly exceed €14 billion this year.

Sewing said the results position the bank to meet its 2026 objectives and reinforce its confidence that it has upside to its target of a return on tangible equity above 13% in 2028.

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