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Deutsche Bank Expects Broadly Unchanged Revenue in 2017
German lender Deutsche Bank AG said revenue for this year will be mostly flat this year as enhanced conditions for banks aid in countering the effect of disposals.
In a statement included in its annual report released on Monday, the lender said the guidance mirrors the anticipated modest economic recuperation in Europe, while expansion in the Americas is seen to gain from fiscal stimulus. The positive effect of the improving interest rate conditions is also cited as a factor for the projections.
The bank added that they expect a significant increase in client activity in 2017, indications of which has already been seen at the start of the year.
CEO John Cryan, is looking to prop up revenue after tackling legal investigations and lowering risk-exposure in the investment bank for two years. In a strategic reversal announced this March, he said that he would look towards shareholders to raise new cash in order to re-establish capital buffers. It announced plans to issue new shares 11.65 euros per piece, seen to raise 8 billion euros, a move that would bolster its Tier 1 ratio to 14.1% from 11.9%.
It also scrapped plans of the sale of Deutsche Postbank AG as it now plans to reintegrate the consumer-banking unit.
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