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Deutsche Bank posts 39% rise in Q1 profit but tariffs weigh

Deutsche Bank posts 39% rise in Q1 profit but tariffs weigh

RTÉ News​29-04-2025

Deutsche Bank has today posted a 39% rise in first-quarter profit after its global investment banking division generated a big increase in revenue in bond and currency trading during volatile markets.
The profit increase comes despite a writedown for a leveraged-finance deal and the bank's additional provisions for the possible impact of tariffs on clients.
Germany's largest lender recorded net profit attributable to shareholders of €1.78 billion in the quarter, compared to €1.28 billion a year earlier, and exceeding analysts' expectations of €1.64 billion.
The figures kick off a crucial year for Deutsche as it winds up a three-year plan and attempts to meet a series of targets that some analysts deem overly ambitious.
The results "put us on track for delivery on all our 2025 targets," CEO Christian Sewing said.
Sewing, who was awarded another term as the bank's CEO in March, is in the process of tweaking the bank's strategy and formulating targets for next year and beyond.
With the first-quarter results, Deutsche has now cumulatively earned more in profit than it has lost over the last 10 years, and has made up for the hefty losses it posted between the years 2015 and 2019.
Revenue in its fixed-income and currency trading, one of the bank's largest businesses, rose 17%, better than expectations for a 10.3% gain.
Origination and advisory, after making big gains in recent quarters, saw an 8% drop in revenue. It posted a €90m writedown for an unnamed position in its leveraged finance business.
Deutsche is one of several big European banks publishing its quarterly report card this week after a slew of strong earnings from their US counterparts.
After US President Donald Trump unleashed a global trade war earlier this month, investors are watching how banks plan to navigate an anticipated slowdown in economic growth that could hit loan demand and their customers' financial health.
"We have taken additional provisions to cover higher macroeconomic uncertainties caused by the tariff discussions and, as a result, our overall provisions were higher year-on-year," Sewing wrote in a memo to staff.
Deutsche operates from Sydney to New York, but the economy of its important home market in Germany has been stagnating.
The nation's top central banker warned last week that the German economy, Europe's largest, faces a possible slight recession in 2025, something that could eat into banks' profits and result in loan defaults by corporate clients.
As Sewing strives to meet his ambitious profit and cost targets, some analysts remain sceptical about the bank's ability to meet all its goals. In January, Deutsche abandoned a key cost target.

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Aldi launches £3.99 buy that will light up your garden for balmy summer nights – it will add style to a fence in no time
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The Irish Sun

timean hour ago

  • The Irish Sun

Aldi launches £3.99 buy that will light up your garden for balmy summer nights – it will add style to a fence in no time

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The Irish Sun

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Ireland turns back on stereotype as alcohol use drops & pubs ‘struggle for survival' amid new Budget excise cut call
Ireland turns back on stereotype as alcohol use drops & pubs ‘struggle for survival' amid new Budget excise cut call

The Irish Sun

timean hour ago

  • The Irish Sun

Ireland turns back on stereotype as alcohol use drops & pubs ‘struggle for survival' amid new Budget excise cut call

LAST orders are being called on the drunken Irish stereotype as alcohol consumption here drops to average European levels, experts say. A new study shows that average 3 Beer is Ireland's favourite drink, a new study claims Credit: Getty 3 Irish drinking habits are now the same as the European average Credit: Getty This is a drop of more than one third - 34.3 per cent - since 2001. The Drinks Industry Group of Ireland last night told how the figures demonstrated that Irish people are increasingly drinking alcohol in moderation. The report, authored by And total consumption across the country fell by 2.4 per cent to 41.5million litres in 2024. READ MORE IN MONEY Amid the major downward trend in booze consumption, the DIGI highlighted how alcohol consumption in Ireland is now at average Foley said: 'Today's figures offer clear proof of what many of us already know – Irish people are increasingly drinking in a restrained manner, with consumption continuing the downward trajectory that has been recorded since the millennium. 'In contrast to the negative stereotypes that once existed, alcohol consumption in Ireland is now at average European levels, with the purchase of non-alcoholic drinks continuing to increase.' But the DIGI highlighted how Ireland continues to have the second highest excise rates on alcohol in Europe. MOST READ ON THE IRISH SUN And calls are growing for an urgent cut in excise rates after alcohol consumption in Ireland fell again last year. Why Guinness tastes better in Ireland Vowing that DIGI would call for a ten per cent cut in excise in Budget 2025, O'Keefe said: 'This downward trend also raises the obvious question as to why Ireland continues to have the second highest excise rates on alcohol in Europe. 'Given that we now consume alcohol at average European levels it makes sense that we should pay excise at average European levels also. 'This is particularly true following the introduction of minimum unit pricing which prevents the sale of strong alcohol at low prices in Today's figures offer clear proof of what many of us already know – Irish people are increasingly drinking in a restrained manner". Economist Anthony Foley 'Across Ireland, hundreds of small rural 'A cut in excise would offer these businesses an opportunity to continue acting as vital hubs in their communities, as well as a crucial part of our 'DIGI will be seeking a 10 per cent cut in excise in this year's Budget as an urgent measure to give these businesses a fighting chance of survival.' The report found that beer was the country's most popular Spirits were the nation's third favourite tipple at 22.3 per cent and cider, at 6.1 per cent, was the fourth favourite. 3 Irish boozing habits are down by 4.5 per cent Credit: Getty

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