Skip to content

Deutsche Bank Cost Target Becoming ‘More Challenging,’ Sewing Says

Christian Sewing
Christian SewingPhotographer: Krisztian Bocsi/Bloomberg

Deutsche Bank AG Chief Executive Officer Christian Sewing acknowledged costs are becoming increasingly difficult to contain as the war in Ukraine intensifies inflation pressures while making it harder to offset them through revenue growth. 

“The economic consequences of the war in Ukraine are making themselves felt along with supply bottlenecks, currency fluctuations and significantly higher inflation rates in general,” Sewing said Wednesday in remarks prepared for Deutsche Bank’s annual general meeting next week. “The environment for our 70% cost-income ratio target for 2022 is more challenging.”