Deutsche Bank Vows Higher Returns, Payout in Strategy Update

Deutsche Bank AG raised a key return target and pledged higher payouts for shareholders as Chief Executive Officer Christian Sewing mapped out its strategy for the next three years.

Germany’s largest bank is targeting a return on tangible equity of more than 13% by 2028, up from a goal of above 10% this year, it said in a statement Monday. It plans to distribute 60% of profit to shareholders from next year, compared with 50% currently, with any excess cash beyond that to be used for “focused growth” or more payouts.