Skip to content
Subscriber Only

Deutsche Bank Could Save $2.2 Billion Staff Costs, JPMorgan Says

  • Analysts say their stance on stock proved wrong so far in 2016
  • Deutsche Bank may update cost goals this month, analysts say

Deutsche Bank AG, which runs Europe’s biggest investment bank, needs to cut costs further and could save as much as 1.9 billion euros ($2.2 billion) this year largely through a hiring freeze, according to analysts at JPMorgan Chase & Co.

Deutsche Bank may update its cost-reduction targets when it publishes first-quarter earnings this month to “rebuild trust” with investors amid the “weak revenue environment,” JPMorgan analysts wrote in a report from London on Monday. The U.S. bank retained its “overweight” stance on the shares because quarterly results may show progress on cuts.