Deutsche Bank Aktiengesellschaft (DB) Q4 2022 Earnings Call Transcript

For the period ending December 31, 2022

February 2, 2023 7:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good afternoon, ladies and gentlemen. Thank you for standing by. I'm France, your chorus call operator. Welcome and thank you for joining the Deutsche Bank's Q4 2022, Analysts Conference Call. Throughout today's recorded presentation, all participants will be in a listen-only mode. The presentation will follow with our question-and-answer session. [Operator Instructions].

It's my pleasure, and I would now like to turn the conference over to the Ioana Patriniche, Head of Investor relations. Please go ahead.

Ioana Patriniche

Thank you for joining us for our fourth quarter and full year 2022 preliminary results call. This call, we will start with our Chief Executive Officer, Christian Sewing, followed by our Chief Risk Officer, Olivier Vigneron, and then our Chief Financial Officer, James von Moltke. The presentation as always, is available to download in the Investor Relations section of our website db.com.

Before we get started, let me just remind you that the presentation contains forward-looking statements, which may not develop as it currently expect. We therefore ask you to take notice of the precautionary warnings at the end of our materials.

With that, let me hand over to Christian.

Christian Sewing

Thank you, Ioana, and welcome from me too. Today marks a very significant milestone for us. Three and a half years ago, in July 2019, we came together with you to discuss our plans for a fundamental transformation of Deutsche Bank. And we set ourselves some key financial goals for the end of 2022.

Today, we would like to talk you through what we have achieved despite facing significant challenges from a pandemic and the war in Ukraine. We would also like to highlight how Deutsche Bank today is a fundamentally different bank, positioning us for further sustainable growth.

Let's start with the five decisive actions we took as we launched our transformation strategy in 2019 on Slide 1. Firstly, we created four client centric divisions, which has delivered stable growth as promised. In 2022. These four businesses contributed to our best profits for 15 years. These divisions complement each other and provide well diversified earnings streams.

We are now a better balance bank. We are particularly pleased that the corporate and private banks together more than doubled their contribution since 2018, contributing just over 70% of the group's pretax profits in 2022.