Deutsche Bank CFO Softens Revenue Target
September 10 2019 - 6:32AM
Dow Jones News
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)
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