Deutsche Bank Q2 2023 Results: Continuation of Q1 Trends Despite Some Noise

Deutsche Bank (DB or the Bank) reported Q2 2023 results with a number of moving parts. Pre-tax profit of EUR 1.4 billion was down by 9% Year-on-Year (YOY) due to EUR 655 million of litigation and restructuring costs. Excluding these costs, pre-tax profit would have been up by 25% YOY, driven by strong revenues at the Corporate Bank and the Private Bank, partly offset by weaker Investment Banking and Asset Management results.