Deutsche Bank AG (NYSE: DB) benefits from a strong balance sheet position and revenue growth. Its strong liquidity profile aids sustainable capital distribution activities. However, a rise in expenses and a deterioration in credit quality are concerning. Deutsche Bank continues to benefit from its deposit balance. The metric has witnessed a 2% CAGR over the last five years (ending in 2023) and the trend continued in the first quarter of 2024. Furthermore, the bank benefits from a diverse deposit base that spans multiple client categories and geographic regions. Also, as of Mar 31, 2024, the company's loan-to-deposit ratio was 75.7%, indicating a robust and steady capital foundation. We believe that a stable deposit level will benefit its balance sheet. DB remains focused on strengthening its capital position. As of Mar 31, 2024, the Common Equity Tier 1 (CET 1) ratio was 13.4%. Risk-weighted asset (RWA) reductions and ...