SHORT REPORT FROM THE BANKING SECTOR

$DB Deutsche Bank, Germany's largest bank, reported a 5% y/y growth in revenues to EUR 7.7bn (expected EUR 7.5bn) and a net profit of EUR 1.3bn (+9% y/y; expected EUR 1.0bn) for the first quarter of the year. At the same time, management reaffirmed its full-year revenue guidance, raised its planned savings by EUR 500mn and said it is on track to meet or beat its longer-term targets for 2025. The share buyback could then resume in the second half of this year. Customer deposits fell by 5% compared to the end of last year