Deutsche Bank earnings reached a record €1.9 billion after tax in the third quarter of 2026, as revenue rose 4% from a year earlier to €8.3 billion. The bank said on October 28 that it was its third consecutive quarter of record profit.

Key Takeaways

  • Quarterly profit before tax rose 8% year over year to €2.6 billion.
  • The bank’s Corporate Bank reported record quarterly revenue, while asset-gathering businesses attracted record inflows.
  • Deutsche Bank said its nine-month performance supported a full-year revenue ambition above €33 billion.

Deutsche Bank earnings and credit costs

For the first nine months of 2026, profit after tax rose 7% year over year to a record €5.9 billion. Profit before tax increased 8% to €8.4 billion, with all four businesses contributing to the gain.

The bank’s third-quarter results showed a credit-loss provision of €501 million, up 9% from the previous quarter. Deutsche Bank said the provision included further reductions in commercial real estate exposure and an individual event in its Corporate Bank.

The bank also disclosed that its application of the EU accounting carve-out for certain hedge accounting had a positive €3.0 billion impact on third-quarter profit before tax. The corresponding impact was positive €343 million in the same quarter of 2025. The bank said the effect can be positive or negative in any period, depending on changes in the fair value of hedged positions and hedging instruments.

Corporate banking and asset inflows

Corporate Bank revenue rose 9% year over year to approximately €2 billion, a quarterly record. The Private Bank reported an 8% revenue increase and record quarterly net inflows of €17 billion.

Asset Management attracted a record €31 billion in quarterly net inflows, with assets under management exceeding €1.2 trillion. Investment Bank revenue broadly matched its record year-earlier quarter: stronger fixed-income and currencies financing was offset by lower markets revenue.

Full-year outlook and capital returns

Nine-month revenue rose 5% to €25.5 billion. Deutsche Bank said the performance supported a 2026 revenue ambition above €33 billion. Chief Executive Christian Sewing said on the earnings call that the bank was confident it could exceed that figure.

The bank continued to expect full-year non-interest expenses of around €21.3 billion. Third-quarter expenses were €5.2 billion, unchanged from a year earlier. Its cost-to-income ratio improved to 62.4% from 64.4%.

Deutsche Bank ended the quarter with a Common Equity Tier 1 capital ratio of 14.0%, at the high end of its operating range. It completed €1.5 billion in share buybacks during 2026. Chief Financial Officer Raja Akram said the bank wanted a predictable buyback cadence, subject to supervisory approval.

Next milestone

Deutsche Bank scheduled a fixed-income investor call for October 29, 2026.

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