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Deutsche Bank Joins UBS in Flagging Challenge of Soaring Pay

Bloomberg business news
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Deutsche Bank AG became the latest firm to warn that soaring pay is one of the biggest challenges facing it this year.

“Payroll pressure” is a key reason why the bank on Wednesday said that the cost outlook for the year has worsened, Chief Financial Officer James von Moltke told reporters. He said that the lender stands by guidance for its cost-to-income metric of 70% after it also flagged an improved revenue forecast for the investment bank.