Deutsche Bank reports first quarter 2016 net income of 236 million euros

Key developments

• Revenue decline of 22% year-on-year reflected a challenging environment and the impact of strategic decisions to downsize and exit certain businesses
• Noninterest expenses declined 17%, largely from lower litigation charges
• Adjusted costs declined 4% from lower variable compensation
• CET1 ratio of 10.7%; pro forma impact of sale of Hua Xia Bank stake anticipated in second quarter to add ~50 bps
• RWA up slightly to EUR 401 billion quarter-on-quarter, reflecting higher RWA for operational risk
• Progress on strategy implementation included reducing/exiting certain businesses and progress on disposals

The complete press release is available here.