Finance
Deutsche Bank’s Rising Costs Take Shine Off Trading Beat
- Costs exceed estimates on severance payments, litigation
- CEO Sewing is trying to balance cost cuts and investments
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Deutsche Bank AG Chief Executive Officer Christian Sewing said he’s optimistic the lender can keep increasing revenue through next year, helping offset headwinds from rising costs and deteriorating credit quality.
The lift from rising interest rates “is holding up far stronger than we initially planned,” Sewing said on a conference call Wednesday. “I do believe that with regard to our own existing plan, we see positive surprises also in the second half of 2023, and I do also think in 2024.”