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Research Alert: Deutsche Bank Posts Q1 Beat; Geopolitical Risks Cloud Outlook

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-- CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:

Deutsche Bank delivered a record Q1 2026 post-tax profit of EUR2.2B (8% Y/Y growth) and EPS of EUR1.06, both exceeding consensus estimates of EUR1.78B and EUR0.92, respectively. Net revenues of EUR8.7B grew 2% and beat the consensus estimate of EUR8.5B, with strong performance across all segments achieving post-tax RoTE at near or above 13%. The results demonstrate impressive operational momentum with efficiency gains (cost/income ratio improved to 58.9% from 61.2%) and clear progress toward 2028 strategic targets. Management provided full-year 2026 guidance including net revenues of ~EUR33B, signaling confidence in execution. However, we remain cautious about sustainability given mounting macro headwinds. The EUR519M provision for credit losses, including overlays for geopolitical and CRE risks, underscores management's concerns about deteriorating conditions. We believe Germany's exposure to the Middle East conflict and energy cost inflation warrants a measured outlook despite the strong quarter.

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Research Alert: Azn Q1 2026 Beat As Oncology Remains Strong; Reaffirms 2026 Guidance

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China Southern Power Grid Energy Storage's Q1 Profit Jumps 21%, Revenue Rises 19%

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European Investment Bank to Advance Ukraine Infrastructure Projects, Including Energy

The European Investment Bank will provide advice on infrastructure development under the a project preparation initiative dubbed Ukraine First, which was created by the European Commission and European Bank for Reconstruction and Development, the EIB said on Tuesday.The EIB will seek to carry forward large-scale infrastructure plans into fully-fledged projects, including some in the energy sector, that are ready to seek financing and construction, it said in a statement.That preparatory work will include feasibility studies, technical design and environmental assessments, the EIB said.Initially, the bank's work will focus on the road network in southern Ukraine, while work will also take place on the restoration of critical infrastructure such as road, energy and railway networks.The EIB signed a deal in Kyiv with the Ukrainian Ministry of Economy, Environment and Agriculture, confirming the cooperation, it said, with a framework now in place for investment projects to take place as Ukraine pursues its ambition of EU membership."This agreement is an important step in supporting Ukraine's recovery and EU accession plans through well-prepared investments," said EIB Vice President Karl Nehammer. "Strong project preparation is essential to ensure that infrastructure investments are delivered efficiently, attract financing and meet European standards."Ukraine First stands for Facility for Infrastructure Reconstruction and it currently has 40 million euros ($46.8 million) in funding available.EIB Advisory will start work on the M15 highway that runs between Odesa in southern Ukraine to the Romanian border, providing a transport plan for the Odesa region and helping to modernize this key road.The EIB has since its 2007 arrival in Ukraine, provided more than 4 billion euros in project financing to the country.