Deutsche Bank publishes transcript of Q2 2026 analyst conference call
DB•Transcript and management attendees
Deutsche Bank published the transcript of its Q2 2026 analyst conference call attended by CEO Christian Sewing, CFO Raja Akram and IR deputy head Silke-Nicole Szypa.
Guidance, buyback and profitability outlook
- Announced a new EUR 500 million share buyback from 2026 net income; it will start once the current EUR 1 billion buyback finishes.
- Kept 2026 revenue ambition at around EUR 33 billion; Sewing said results could “slightly exceed” that level despite expected C&O normalization.
- Raised full-year NII view to slightly above prior guidance of around EUR 14 billion; Akram flagged most hedge-driven uplift in 2027-2028.
- Reiterated expense guidance slightly above EUR 21 billion; Akram cited about EUR 400 million of second-half productivity to offset investment pacing.
- Credit-loss outlook stayed lower year on year; Akram cited a targeted roughly EUR 100 million CRE de-risking action, with similar-sized moves possible.
- Management pointed to stronger H2 momentum in Corporate Bank, a stronger IBCM second half, sustained PB-AM inflows, with confidence in .
