Deutsche Bank maintains its medium-term forecast











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BERLIN (Reuters) – Deutsche Bank is on track to meet its restructuring targets and will stick to its guidance through 2025 despite risks from the war in Ukraine, inflation and the risk of recession, its chief financial officer said. German daily Boersen-Zeitung.

“We want to achieve an after-tax return on tangible equity of more than 10% and reduce the cost-to-income ratio to less than 62.5%,” James von Moltke said in a interview published on Tuesday.

“We have of course wondered whether the developments of the last few months made a change of strategy necessary,” he added, referring to the war in Ukraine, inflation problems and rising interest rates. interest.

The board of directors believes, however, that the events since February confirm the bank’s strategy: “Our merchant bank, for example, is successful because we support our customers precisely on the issues that currently constitute the big challenges. “

Deutsche Bank reported in October a third quarter profit up 475%, supported by the dynamism of its investment bank.

The first German bank and its chairman of the executive board, Christian Sewing, are trying to achieve the objectives set as part of a costly overhaul that began in 2019.

(Report Kirsti Knolle; French version Kate Entringer, edited by Blandine Hénault)










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