The Deutsche Bank has recently announced its earnings for the second quarter of 2022. The financial giant has revealed that it has generated the highest Q2 earnings since the year 20211.
By hitting the highest Q2 earnings, Deutsche Bank has surpassed all central banks. The Deutsche Bank has announced that the post-tax profits they have generated for half a year are also the highest since 2011.
On the other hand, other major banks have reported losses in profits for the same period.
Earnings Report by Deutsche Bank
For the second quarter of 2022, Deutsche Bank has announced that before tax, they generated €1.5 billion worth of profit.
The bank has revealed that the profit is 33% more than the same quarter in 2021. As for the post-tax profit, Deutsche Bank has announced that its profit is €1.2 billion.
The Deutsche Bank has announced that their post-tax profit is 46% more than what they recorded in the same quarter last year as well.
Deutsche Bank’s First 6-Months Performance
For the first six months of 2022, Deutsche Bank has announced that its before-tax profit has surged to €3.2 billion, experiencing a 16% increase.
On the other hand, Deutsche Bank has announced that the post-tax profit they have generated is worth €2.4 billion, up 31% in the six-month period.
Revenue in Q2
Among all the positive factors for Deutsche Bank, the factor with the most highlight is the net revenue.
The German Bank has revealed that the net revenues they have generated in the second quarter have increased by 7% compared to the same quarter last year.
According to the bank, the revenue they generated in the second quarter is worth €6.6 billion. The Deutsche Bank has announced that the high revenue they have generated is because of the core business growth.
Their core businesses have continued recording significant growth in recent quarters, which is why their revenues have gained so much growth.
Net Revenue Growth
According to the German Bank, the net revenue they have generated for the recent quarter is worth €1.6 billion. The bank has announced that its net revenues have grown 26% on a year-over-year basis.
The net revenues generated by the Asset Management and the Private Bank segments have surged by 5% and 7% respectively.
The Deutsche Bank also reported a significant growth in net revenue. It has been said that in the second quarter, they generated a net revenue worth €2.6 billion, up by 11%.
Performances of other Banks
As for Morgan Stanley, the revenue has dropped 55% in the past second quarter.
The situation is the same for other banks such as JP Morgan, Goldman Sachs, UBS, and Credit Suisse. The banks recorded 61%, 41%, 14%, and 43% revenue losses in the second quarter respectively.
It is quite surprising that despite sharing promising earnings in the second quarter, the share prices for Deutsche Bank have dipped by 3.57%.