Deutsche Bank CFO Softens Revenue Target

Date : 09/10/2019 @ 10:32AM
Source : Dow Jones News
Stock : Deutsche Bank AG (DBK)
Quote : 6.721  -0.061 (-0.90%) @ 4:35PM

Deutsche Bank CFO Softens Revenue Target

Deutsche Bank (XE:DBK)
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   By Pietro Lombardi 
 

Deutsche Bank AG's (DBK.XE) Chief Financial Officer James von Moltke has softened the medium-term revenue target the German bank set in July.

Germany's largest lender targets revenue of between 24 billion euros ($26.49 billion) and EUR25 billion in 2022, Mr. von Moltke said Monday, speaking at the Barclays Financial Services Conference in New York.

"We planned something between EUR24 billion and EUR25 billion," Mr. von Moltke said, noting that the macro environment has become more fragile.

"We think [the target] remains achievable but we are obviously facing headwinds from interest rates," the CFO said, adding that the bank will work to offset this effect.

Deutsche had set the mid-term revenue target of around EUR25 billion when it presented a deep overhaul, which includes exiting its global-equities sales and trading business, as well as cutting 18,000 jobs.

 

Write to Pietro Lombardi at pietro.lombardi@dowjones.com

 

(END) Dow Jones Newswires

September 10, 2019 06:17 ET (10:17 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.


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