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Deutsche Bank Q1 Adj. Pretax Profit Rises - Quick Facts

Deutsche Bank (DB) reported first quarter Group profit before tax of 206 million euros, compared to 292 million euros, prior year. The Group noted that its first quarter Group profit before tax was after bank levies of 503 million euros, transformation-related effects of 172 million euros and costs of ongoing Capital Release Unit wind-down. Loss attributable to shareholders was 43 million euros compared to profit of 97 million euros. Adjusted profit before tax rose 13% year-on-year to 303 million euros. Core Bank adjusted profit before tax increased 32% to 1.1 billion euros.

First quarter Group revenues were 6.4 billion euros, flat year-on-year, despite the bank's exit from equities trading in July 2019. Revenues in the Core Bank were 6.4 billion euros, up 7% year-on-year both on a reported basis and excluding specific items.

Christian Sewing, CEO, said: "In the current crisis, we have shown robust numbers and demonstrated strong performance. Conservative balance sheet management enables us to navigate the current environment from a position of strength as the leading bank in Europe's strongest economy."

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