Deutsche (DB) Completed a €1B Buyback and Started Another €500M Program. Is Its 60% Payout Target Sustainable?
Deutsche Bank Aktiengesellschaft (NYSE:DB) concluded its €1 billion share-buyback program on August 21, acquiring 35.7 million treasury shares, or 1.87% of its share capital. The bank subsequently announced a new €500 million buyback program starting August 25, with completion expected by December 11. This new program is funded by the bank's net profit for 2026.
Management's 60% payout target pertains to the total dividends and buybacks as a proportion of net profit attributable to Deutsche Bank shareholders from 2026. The bank's second-quarter profit after tax was €1.9 billion, up 10% year-over-year, while the first-half profit reached a record €4.1 billion. The capital position of Deutsche Bank Aktiengesellschaft (NYSE:DB) appears sufficient to execute the new buyback program without exceeding management's operating range.
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