Deutsche Bank Shares Slide on CFO Comments

By Sarah Sloat

Deutsche Bank AG (DBK.XE) shares slid Wednesday after its finance chief said the company faces headwinds of about 450 million euros ($553 million) in currency effects and funding costs in the first quarter.

Speaking at a finance conference, Chief Financial Officer James von Moltke said the strong euro would deal a EUR300 million blow to Deutsche Bank's corporate and investment bank unit in the first quarter. The impact of changes in the bank's funding process will also burden the CIB unit, he said.

"We do have a headwind on a year-on-year comparison before you get to business performance of about EUR450 million," Mr. von Moltke said.

At 1535 GMT, Deutsche Bank shares traded at EUR11.96, down 5.5%.

Mr. von Moltke was speaking at the European Financials Conference hosted by Morgan Stanley in London.

Write to Sarah Sloat at sarah.sloat@wsj.com

(END) Dow Jones Newswires

March 21, 2018 12:01 ET (16:01 GMT)

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