Deutsche Bank, UniCredit Signal Rising Revenue Despite Downturn
- UniCredit CEO: 100 basis points in rate hikes earns $1 billion
- Deutsche Bank targeting full year revenue to 27 billion euros
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Two of Europe’s largest lenders signaled optimism that surging income from loans would more than offset the negative effect of the region’s energy crisis, as central banks hike interest rates sharply to tackle inflation.
Deutsche Bank AG is on track to reach the “top end” of its revenue guidance for the year, according to Chief Financial Officer James von Moltke, while UniCredit SpA Chief Executive Officer Andrea Orcel said Thursday that the bank will give a “substantial upgrade” to its targets alongside third-quarter results. Both executives were speaking at a Bank of America Corp. conference in London.