Deutsche Bank confirms 'ambitious' financial goals

Tuesday, 10. December 2019 09:17

Deutsche Bank confirmed on Tuesday its target of an 8% post-tax return on tangible equity (RoTE) in 2022. Management stated reaching of this target became even more "ambitious given the external headwinds" such as lower interest rate developments in the Eurozone. For the Core Bank, excluding the Capital Release Unit, the company set a post-tax RoTE target of above 9% in 2022.

Chief Executive Officer Christian Sewing stated that during the last few months the company "made significant progress on every dimension of our strategic transformation. We are in line with our plan and even ahead in several areas."

As per the announcement, management anticipates that the interest rate environment will primarily impact the outlook for returns in the Private Bank and Corporate Bank in the mid-term. Still, it is expected that the revenue growth in the Investment Bank partially offsets this impact. The bank reaffirmed its cost targets for 2019, 2020 and 2022.

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