Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Xetra  >  Deutsche Bank    DBK   DE0005140008

DEUTSCHE BANK

(DBK)
My previous session
Most popular
  Report  
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Deutsche Bank : sustainably cut costs in 2018, CFO says

share with twitter share with LinkedIn share with facebook
share via e-mail
1
01/11/2019 | 10:09am EDT
FILE PHOTO: The logo of Deutsche Bank is seen in front of one of the bank's office buildings in Frankfurt

DUESSELDORF (Reuters) - Deutsche Bank sustainably cut costs in 2018, the lender's finance chief said on Friday, seeking to allay a major concern held by investors in recent years.

Germany's largest lender has pledged to keep costs at 23 billion euros (£20.7 billion) in 2018 and reduce them to 22 billion euros in 2019.

Analysts on the whole believe the bank will meet these targets, according to a consensus forecast published on the bank's website, after missing its goals in past years.

"We have our costs under control," Chief Financial Officer James von Moltke told a New Year's reception.

"We cut costs sustainably to such a degree in 2018 that we can confidently say: We are convinced that the times are over when Deutsche Bank set targets that it then fails to meet," von Moltke said.

The past year has been a turbulent one, in part because of allegations of laundering money after a two-day raid in November that involved a police search of all board members' offices.

"It is obvious that the partially distorted discussions on these issues are damaging our business," von Moltke said.

"We want to resolve these allegations as quickly as possible, and we are cooperating fully with the authorities," he said. "So far we have had no evidence of any misconduct on our part," he said.

(Reporting by Matthias Inverardi; Writing by Tom Sims; Editing by Riham Alkousaa and Michelle Martin)

share with twitter share with LinkedIn share with facebook
share via e-mail
1
Latest news on DEUTSCHE BANK
05:45aDEUTSCHE BANK : Morgan Stanley European Financials Conference 2019
PU
04:38aEXCLUSIVE : Germany to create fund to foil foreign takeovers after China moves
RE
03/19DEUTSCHE BANK : Women in tech for social change
PU
03/19DEUTSCHE BANK : appoints co-head of Asia Pacific execution services
RE
03/19DEUTSCHE BANK : Alternative Investment Survey finds China and distressed strateg..
PU
03/19DEUTSCHE BANK : Trump received $2bn loans from Deutsche Bank – Report
AQ
03/19MERKEL : German government shouldn't intervene in bank talks
AQ
03/19Barclays hires Credit Suisse internet banker
RE
03/19FITCH RATINGS : Deutsche Bank/Commerzbank Merger Talks Highlight Challenges
AQ
03/19MERKEL : Won't take stand on possible Deutsche Bank/Commerzbank merger
RE
More news
Financials (€)
Sales 2019 24 958 M
EBIT 2019 2 518 M
Net income 2019 1 123 M
Debt 2019 -
Yield 2019 2,26%
P/E ratio 2019 15,87
P/E ratio 2020 9,65
Capi. / Sales 2019 0,66x
Capi. / Sales 2020 0,65x
Capitalization 16 580 M
Chart DEUTSCHE BANK
Duration : Period :
Deutsche Bank Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends DEUTSCHE BANK
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus UNDERPERFORM
Number of Analysts 24
Average target price 7,55 €
Spread / Average Target -5,9%
EPS Revisions
Managers
NameTitle
Christian Sewing Chief Executive Officer
Karl von Rohr Co-President & Chief Administrative Officer
Garth Ritchie Co-President & Co-Head-Corporate & Investment Bank
Paul Achleitner Chairman-Supervisory Board
Frank Kuhnke Chief Operating Officer & Member-Management Board
Sector and Competitors
1st jan.Capitalization (M$)
DEUTSCHE BANK15.14%18 814
JP MORGAN CHASE & COMPANY9.40%349 689
INDUSTRIAL AND COMMERCIAL BANK OF CHINA6.81%293 716
BANK OF AMERICA20.33%285 795
CHINA CONSTRUCTION BANK CORPORATION12.24%242 006
WELLS FARGO11.57%233 502