Deutsche Bank Warns on Outlook as Cryan's Turnaround Slows
- Revenue falls 10 percent, missing estimates, on lower trading
- Bank sees lower revenue for full year as clients ‘muted’
John Cryan, chief executive officer at Deutsche Bank AG, discusses second-quarter results as revenue declined 10 percent in the bank's weakest quarter in 3 ½ years. He speaks with Bloomberg's Matt Miller. (Video edited to remove comment on engagement with Berlin politicians.) (Source: Bloomberg)
Just four months into his latest turnaround plan, John Cryan is already dialing back ambitions.
The chief executive officer of Deutsche Bank AG on Thursday presented the weakest quarterly revenue in 3 1/2 years as earnings at the reorganized investment banking unit slumped. The bank, which had predicted growth from regained market share this year, cautioned that revenues of its operating businesses will decline, sending the shares down by the most in more than four months.