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Deutsche Bank Capital Pressure May Ease as CFO Weighs Cuts

  • CFO says looking into accelerating some cost measures
  • Cryan says unclear whether bank will make 2016 profit or loss
Bloomberg business news

Deutsche Bank Cost Reductions Push Profit Surprise

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Deutsche Bank AG rose after Chief Financial Officer Marcus Schenck signaled that Germany’s largest lender may have more time to build up capital buffers and is looking at ways to speed up cost cuts.

“We have at least one more year to get the relevant ratios compared to what we had expected in October,” Schenck said on a call with analysts on Thursday, when Deutsche Bank reported a surprise profit for the first quarter. “We are of course looking into potentially accelerating some of the cost measures that we have planned as a reaction to what we’re now seeing in the market. If volumes, if market activity stay at a low level, we will react to that.”