Deutsche Bank stock dips as third quarter outlook turns cautious

Published on 09/23/2026 at 13:33 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Deutsche Bank stock traded at EUR 32.44 on September 23, 2026, down 0.6 percent in Xetra trading. First-half ROTE reached close to 12 percent.

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Deutsche Bank stock (ISIN DE0005140008) traded at EUR 32.44 on Xetra at 9:28 a.m. on September 23, 2026, down 0.6 percent from its opening price of EUR 32.84. The immediate catalyst was a cautious third-quarter investment banking outlook presented by Chief Financial Officer Raja Akram at a Bank of America conference.

Investment banking faces a tough comparison

According to Investing.com on September 23, 2026, Akram said third-quarter investment banking revenue could be flat or slightly lower than in the same quarter of 2025. The comparison is demanding because the prior-year period was particularly strong, while September trading was described as mixed.

The fixed-income and currencies business nevertheless remained close to its record second-quarter 2025 performance, according to Investing.com. The bank also indicated that third-quarter credit provisions should fall between first-quarter and second-quarter levels, although a corporate banking exposure could create an individual charge.

Strategy starts with measurable gains

At the same conference on September 23, 2026, Deutsche Bank said first-half return on tangible equity was close to 12 percent and reiterated a CET1 capital target range of 13.5 percent to 14 percent. The figures give the cautious trading outlook a more specific counterweight: capital strength and profitability remain central to the 2028 strategy.

Wealth management revenue grew by almost 8 percent in the first half of 2026, while net new assets reached EUR 60 billion, according to Investing.com. That mix shift matters because recurring wealth and asset-management income can reduce reliance on volatile investment-banking results.

Stock remains below yearly high

The Xetra share price of EUR 32.44 on September 23, 2026, was EUR 3.41 below the 52-week high of EUR 35.85 reached on September 8, 2026, and EUR 8.62 above the 52-week low of EUR 23.82 recorded on March 23, 2026. The distance to both reference points places the stock closer to its yearly high than its yearly low, despite the intraday decline.

Deutsche Bank stock closed at EUR 32.44 on Xetra as of September 23, 2026, with 326,604 shares traded by 9:28 a.m. The next market test is whether first-half profitability and capital returns can offset a flat-to-lower investment-banking comparison in the third quarter.