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