Hey there, guess what? You can totally dive into this week’s Editor’s Digest without dropping a dime! Roula Khalaf, you know, the big boss at FT, handpicks what she thinks are the coolest stories, and she sends them to you in this chill little newsletter. It’s like having insider scoop vibes sent straight to your inbox.
So, talking about scoops, Deutsche Bank just pulled a rabbit out of the hat, reporting its craziest high pre-tax profit in over a decade. Yup, their investment banking wing really took off and defied the whole doom-and-gloom market scenario. We’re talking a whopping 39% rise year-on-year, hitting €2.8 billion in Q1 2025. That was even more than what the smarty-pants analysts predicted. Revenues shot up by 10%, thanks to the stellar investment banking and asset management numbers. Meanwhile, costs dipped 2%, mostly ’cause they’re paying less on litigation now. Surprise, surprise!
Christian Sewing, the guy at the helm, is super pumped and says they’re striding nicely towards their 2025 targets. The efficiency thingy, or what they call the cost-to-income ratio, got a serious makeover. It’s down to 61.2% from last year’s 68.2%, better even than the experts dreamed of with their 63.8% forecast. Not too shabby, right?
But hey, not everything’s rosy. They kinda set aside €471 million for credit losses, and that’s 16% higher than they thought it would be. Apparently, there’s €130 million sitting there just in case things get shaky due to the whole geopolitical and macroeconomic jitters in the US.
And there you have it, a messy yet interesting jumble of what’s going down at Deutsche. Keep it real!
