Deutsche Bank reported a record first-half profit for 2026, continuing a 20-quarter growth streak. The bank also announced a new €500 million share buyback, funded from 2026 profits.

Q2 Results Beat Expectations

For the second quarter of 2026, Deutsche Bank's net profit after tax came in at €1.905 billion, up 10% year-on-year. Pre-tax profit rose 11% to €2.68 billion, surpassing the market estimate of €2.25 billion. Net revenues increased 9% to €8.479 billion, also above the estimated €8.11 billion.

Return on tangible equity (ROTE) reached 11%, compared to the 9.3% analysts had predicted. The CET1 ratio, a key measure of capital strength, stood at 13.9%, beating the 13.8% estimate. The cost-income ratio improved slightly to 63% from 63.6%, while non-interest expenses rose 8% to €5.34 billion.

Investment Banking Strength

Deutsche Bank's investment banking division reported in Q2, with revenues up 19% year-on-year. Fixed income and foreign exchange revenues reached a record level, while investment banking and capital markets revenues rose 36%.

First-Half Record and Full-Year Target

For the first half of 2026, Deutsche Bank reported net revenues of €17.15 billion, up 5% year-on-year, and pre-tax profit of €5.721 billion, up 9%. Net profit for the period rose 9% to €4.079 billion. The bank targets approximately €33 billion in revenue for the full year 2026. Meanwhile, the broader European bank rally continued as Deutsche Bank and UBS both reported profit jumps.

The results extended Deutsche Bank's growth streak to 20 consecutive quarters, according to the bank.