Deutsche Bank has said its net profit amounted to €1.381 billion in the first quarter, down 33% from a year earlier.
Pre-tax profit fell 38% to €1.879 billion.
"Against a background of continued caution in global financial markets, we delivered solid results," said chief executive Josef Ackermann.
Germany's biggest lender has said that its bottom-line profit was cut by a third in the first three months as a result of weaker market conditions and exceptional charges.
The first quarter net profit figure fell short of the €1.64 billion forecasted by analysts in a Dow Jones Newswires poll.
Earnings were hit by "weaker conditions in the first quarter 2012," he explained.
But the bank also took a writedown of €257m against its holding in the pharmaceuticals firm Actavis, which is being sold, Ackermann said.
