CCIR

2nd-quarter profit despite restructuring and rise in credit loss provisions. Group pre-tax profit of 158 million euros, versus pre-tax loss of 946 million euros in 2nd quarter of 2019. Net profit of 61 million euros, versus net loss of 3.1 billion euros in the prior year quarter

which included transformation-related effects. Provision for credit losses of 761 million euros, consistent with management expectations; re-affirming full year guidance of 35-45 basis points of loans. Core Bank earnings momentum in the quarter.  Pre-tax profit of 753 million euros, versus loss in prior year quarter. Net profit of 489 million euros, post-tax return on tangible equity of 3.4%. Revenue growth year on year.

Group net revenues up 1% to 6.3 billion euros despite exit of Equities. Core Bank (excluding la Capital Release Unit) net revenues up 6% to 6.4 billion euros, up 8% to 6.3 billion euros ex-specific items. Investment Bank net revenues up 46%, up 52% ex-specific items. Sustained progress on costs.

Noninterest expenses down 23% year-on-year to 5.4 billion euros. Adjusted costs ex-transformation charges1 down 10% to 4.8 billion euros excluding reimbursement-eligible Prime Finance expenses. Capital and balance sheet strength.

The CET1 ratio was 13.3% at the end of the quarter, up from 12.8% in the first quarter of 2020. The leverage ratio rose by 20 basis points to 4.2% (fully loaded) in the quarter. Liquidity reserves rose by 28 billion euros to 232 billion euros in the quarter. Significant progress on transformation

Completed legal entity merger of Private Bank in Germany. Created International Private Bank by combining Wealth Management and Private & Commercial Business International. Completed Integration of Corporate Bank in Germany. Set 200 billion euro target for sustainable financing and investment. Announced agreement to form partnership with Google Cloud.