Deutsche Bank shares still sliding on doubts about turnaround

Analysts say CEO is right to slash trading desks but question if he can make the plan work amid low interest rates and inroads by US banksCEO Christian Sewing delivers a speech during the annual shareholder meeting of Germany’s largest business bank, Deutsche Bank, in Frankfurt, Germany, May 23, 2019. Picture: REUTERS / KAI PFAFFENBACH

Sewing plans to invest a quarter of his fixed salary in Deutsche shares, a person with knowledge of the matter said. “There seem to be some concerns around the plan details, particularly the ability for the bank to retain revenues while cutting costs,” one of the bank’s top 25 shareholders told Reuters, citing worries that the bank would need fresh equity to execute Sewing’s plan.

Deutsche plans to focus on corporate banking and asset and wealth management, areas that can offer more stable revenues than investment banking but are increasingly competitive.

Source: Digital Coin News (digitalcoinnews.net)

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