Deutsche's Private Banking Pre-Tax Profit Unchanged In Q2 2026, AuM Rises

Editorial Staff

29 July 2026

today said its private banking arm reported an unchanged second-quarter pre-tax profit of €605 million ($689.6 million) versus the same period of 2025, while total assets under management rose 13 per cent year-on-year to €732 billion. The lender logged €9 billion of net flows, rising strongly by 39 per cent.

Total client assets reached €846 billion, a rise of €25 billion in the quarter, helped by €8 billion in investment flows.

The Frankfurt-listed lender said its private bank cost/income ratio was unchanged at 69.5 per cent from a year before.

Net revenues rose by 8 per cent to €2.566 billion; provision for credit losses in the private bank rose 51 per cent to €177 million and noninterest expenses rose 8 per cent to €1.784 billion, it said in a statement.

Group-wide results
At the group level, Deutsche Bank said profit after tax rose 10 per cent year-on-year to €1.9 billion in Q2, a record. Profit before tax rose 11 per cent year-on-year to €2.7 billion.

For the first six months of 2026 the bank announced a record first-half after-tax profit of €4.1 billion, up 9 per cent year-on-year, while profit before tax was €5.7 billion, also rising 9 per cent year-on-year.

The bank said it logged noninterest expenses of €5.3 billion, rising 8 per cent year-on-year, which included incremental investments and volume growth; these rose 4 per cent excluding the €200 million effect of a capital-accretive business exit and the non-recurrence of prior year litigation release. It reported €200 million in operating efficiencies in Q2 and €3 million year-to-date, including targeted workforce measures and operating model improvements.

The bank’s 11.0 per cent post-tax return on tangible equity (RoTE) in the second quarter rose from 10.1 per cent from the previous year.

Shares in Deutsche Bank have fallen 7.8 per cent since the start of January.

Deutsche Bank's private bank performance compares with a stronger showing at , which today reported Q2 net profit up 17 per cent to $2.8 billion, driven largely by its investment banking arm, with its wealth management division recording a 13 per cent revenue increase. UBS's global wealth management arm took in $36 billion of net new assets in the quarter, against Deutsche Bank's €9 billion, highlighting the gap in scale.