Deutsche Bank is ‘on track’ to post its first annual profit since 2014, despite a 65 per cent fall its in third-quarter profit.
“We have our costs under control and sufficient capital to grow. We are on track to be profitable in 2018, for the first time since 2014,” chief executive Christian Sewing told media today.
After three years of losses, a failed stress test, several attempts to restructure, a leadership shake-up and a ratings downgrade, many investors have lost faith in the German bank.
Net profit in the third quarter fell by 65 per cent. Revenue in the quarter was 6.175bn euros, down 9 per cent from 6.776bn a year ago.