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☆ Deutsche Bank investment banking unit 'standout' in first quarter, CFO says
▼ + stars: | 2024-04-25 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDeutsche Bank investment banking unit 'standout' in first quarter, CFO saysJames Von Moltke, chief financial officer at Deutsche Bank, comments on the German lender's first-quarter results.

Persons: James Von Moltke Organizations: Deutsche Bank

☆ Deutsche Bank posts better-than-expected profit in first quarter amid investment banking recovery
▼ + stars: | 2024-04-25 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

Deutsche Bank on Thursday reported a 10% rise in first-quarter profit, beating expectations amid an ongoing recovery in its investment banking unit. Net profit attributable to shareholders was 1.275 billion euros ($1.365 billion) for the period, ahead of an aggregate analyst forecast of 1.23 billion euros for the period, according to LSEG data. Deutsche Bank said this was its highest first-quarter profit since 2013. Revenues at its investment bank increased 13% to 3 billion euros, following a 9% slump through full-year 2023 which had dragged down overall profit. Germany's biggest lender reported net profit of 1.3 billion euros in the prior quarter and of 1.16 billion euros in the first quarter last year.

Persons: James von Moltke, CNBC's Annette Weisbach Organizations: Deutsche Bank, Deutsche Bank's, Private Bank, Asset Management

☆ Deutsche Bank smashes profit estimates and boosts shareholder returns
▼ + stars: | 2024-02-01 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

Deutsche Bank on Thursday smashed fourth-quarter earnings expectations, reporting net profit of 1.3 billion euros ($1.4 billion) and announcing a further 1.6 billion euros in shareholder returns for 2024. It follows net profit of 1.031 billion euros for the previous quarter and 1.8 billion euros for the same period last year. It also plans to recommend 900 million euros in shareholder dividends for 2023 at its Annual General Meeting in May. For the year as a whole, the bank reported 4.2 billion euros in net income attributable to shareholders — beating expectations of 3.685 billion euros expected by analysts. As part of a 2.5 billion euro operational efficiency program, Deutsche Bank said it expects to cut 3,500 jobs, mainly in "non-client-facing areas."

Persons: James von Moltke Organizations: Deutsche Bank, Deutsche, CNBC Locations: repurchases

☆ Deutsche Bank is well positioned to exceed capital distribution of €8 billion, CFO says
▼ + stars: | 2024-02-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDeutsche Bank is well positioned to exceed capital distribution of €8 billion, CFO saysDeutsche Bank CFO James von Moltke discusses the lender's momentum into 2024 and gives his take on corporate finance and M&A, as well as on meeting distribution expectations.

Persons: James von Moltke Organizations: Deutsche Bank

[1/2] People are silhouetted next to the Deutsche Bank's logo prior to the bank's annual meeting in Frankfurt, Germany, May 24, 2018. REUTERS/Kai Pfaffenbach Acquire Licensing RightsSummaryCompanies Shares up 7%Investment bank revenue declinesRevenue at retail and corporate divisions riseSlightly more optimistic on 2023 revenueForecasts buybacks in 2024, flags greater capital returnFRANKFURT, Oct 25 (Reuters) - Deutsche Bank (DBKGn.DE) on Wednesday promised more share buybacks next year and said it may return more capital to shareholders than it had previously envisaged, causing its shares to surge. Revenue from investment banking slumped but grew in the lender's retail and corporate divisions on higher interest rates. Deutsche Bank shares were up 7% in morning Frankfurt trade as analysts cited positive news on potential buybacks and dividends. Though earnings dropped, Deutsche recorded its 13th consecutive profitable quarter, a notable streak after years of hefty losses.

Persons: Kai Pfaffenbach, Deutsche, James von Moltke, Mediobanca, Sewing, JPMorgan's, Tom Sims, Frank Siebelt, Jamie Freed, Jason Neely Organizations: Deutsche, REUTERS, Deutsche Bank, Reuters Graphics Reuters, Reuters Graphics Reuters Graphics Investment, Revenue, Goldman, Barclays, RBC, Thomson Locations: Frankfurt, Germany, FRANKFURT

Third-quarter net profit was 1.031 billion euros ($1.06 billion), above an analyst consensus of quarterly net profit attributable to shareholders of 997 million euros, according to LSEG data. The bank's third-quarter net profit was down 8% on the previous year and up 35% on the quarter, amid ongoing struggles in the lender's investment unit. It also said it had scope to release up to an additional 3 billion euros in capital and would increase and accelerate shareholder distributions. The provision for credit losses was 200 million euros, compared to 350 million in the same quarter of last year. Analysts at UBS said Deutsche Bank had delivered a "major improvement in capital" and "robust operational performance," flagging that pre-tax profit of 1.723 billion euros was 9% above consensus.

Persons: James von Moltke, CNBC's Silvia Amaro, von Moltke Organizations: Deutsche Bank, UBS Locations: London

☆ Credit environment worse than normal but not in period of stress, Deutsche Bank CFO says
▼ + stars: | 2023-10-25 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCredit environment worse than normal but not in period of stress, Deutsche Bank CFO saysDeutsche Bank CFO James Von Moltke discusses the German lender's third-quarter results and the market environment.

Persons: James Von Moltke Organizations: Deutsche Bank

☆ Deutsche Bank to see 'normalization' in FIC business in Q3, CFO says
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: 1 min

Deutsche Bank logo is seen in this illustration taken March 12, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsFRANKFURT, Sept 21 (Reuters) - Deutsche Bank (DBKGn.DE) will see a "normalisation" of its fixed income and currency trading business in the third quarter from a strong performance a year ago, the lender's finance chief James von Moltke said on Thursday. The business makes up a big chunk of the investment banking revenue at Germany's largest bank. Reporting by Tom Sims, Editing by Rachel MoreOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, James von Moltke, Tom Sims, Rachel More Organizations: Deutsche Bank, REUTERS, Rights, Thomson

The figures underscore broader trends in global banking, with investment banks struggling as deals are paused, while higher interest rates are a boon to other divisions. Analysts expect the retail unit will also overtake the investment bank as the main revenue driver for the full year, overturning the investment bank's pole position over the previous three years. Investment banking revenue dropped 11% during the quarter, better than an expected 16% drop. Deutsche Bank set out in 2019 to reduce dependence on its volatile investment bank and rely instead on more stable businesses that serve companies and retail customers as a way to restore profitability. Chief Financial Officer James von Moltke said the shift to the retail bank as the largest breadwinner was "significant" because the perception of the lender had been dominated over years by the investment bank, and Deutsche was becoming more balanced.

Persons: James von Moltke, Deutsche, Jeffrey Epstein, Tom Sims, Matthias Inverardi, Friederike Heine, Jamie Freed Organizations: Deutsche Bank, Reuters Graphics, Reuters, Deutsche, Reuters Graphics Deutsche, U.S . Federal Reserve, U.S, Thomson Locations: FRANKFURT

☆ Deutsche Bank CFO says private banks are 'benefitting from the rate environment' and performing well
▼ + stars: | 2023-07-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDeutsche Bank CFO says private banks are 'benefitting from the rate environment' and performing wellJames Von Moltke, CFO of Deutsche Bank, joins CNBC to discuss earnings and the outlook for the coming months.

Persons: James Von Moltke Organizations: Deutsche Bank, CNBC

Higher interest rates helped UniCredit (CRDI.MI) strongly beat earnings expectations in the second quarter. Germany's financial regulator BaFin has been calling on banks to raise the amount of money they set aside for bad loans. Deutsche Bank on Wednesday said provisions for bad loans nearly doubled in the second quarter from a year earlier to 401 million euros. Santander's financial chief said bad loans in Brazil may have already peaked. This sent the bank's shares up around 2% on Wednesday, with Jefferies saying that it sees upside potential to net interest income.

Persons: Ralph Orlowski, Lloyd's, Andrea Orcel, BaFin, James von Moltke, UniCredit, Jefferies, Tom Sims, Jane Merriman Organizations: Germany's Deutsche Bank, REUTERS, Deutsche Bank, Lloyds Banking Group, Lloyds, JPMorgan, Monetary Fund, European Central Bank, Union, Thomson Locations: Frankfurt, Germany, MILAN, MADRID, Europe, Spain, Santander, Brazil

☆ Deutsche Bank beats expectations despite 27% drop in profit, jump in costs
▼ + stars: | 2023-07-26 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

A Deutsche Bank AG branch in the financial district of Frankfurt, Germany, on Friday, May 6, 2022. Alex Kraus | Bloomberg | Getty ImagesDeutsche Bank on Wednesday reported a net profit of 763 million euros ($842 million) for the second quarter of 2023, narrowly beating expectations despite a 27% year-on-year decline. related investing news Citi downgrades Goldman Sachs, says targets will take time to be reached We're selling some shares of this health-care company and changing our rating However, second-quarter non-interest expenses rose 15% year-on-year to 5.6 billion euros, with adjusted costs up 4% to 4.9 billion euros. Nonoperating costs includes 395 million euros in litigation charges and 260 million euros in "restructuring and severance related to execution of strategy." In its first-quarter report, the bank flagged job cuts for its non-client facing staff and reported a sharper-than-expected year-on-year fall in investment bank revenues.

Persons: Alex Kraus, Citi downgrades Goldman Sachs, James von Moltke, CNBC's Silvia Amaro, von Moltke, we've Organizations: Deutsche Bank AG, Bloomberg, Getty Images Deutsche Bank, Citi, Deutsche Bank, CNBC Locations: Frankfurt, Germany

Lenders wasted little time in charging more for loans when interest rates rapidly rose from an almost 15-year slumber around zero last year, but most have dragged their feet on boosting deposit rates paid to millions of their customers. Money market funds are proving popular among savers seeking bigger returns on their cash as high levels of inflation persist. Data from Refinitiv Lipper showed more than 34 billion euros ($37.6 billion) of net flows into European money market funds in March, the best-selling asset type that month. Fidelity International also reported an 8% year-on-year uplift in flows into money market funds on its investment platform between Jan. 1 and April 26. Some lawmakers have criticised banks for the mismatch between what they charge borrowers and the interest rates offered to savers.

☆ Barclays and Deutsche profits defy banking jitters
▼ + stars: | 2023-04-27 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

Deutsche Bank (DB) gained 2.6%. Deutsche Bank’s shares plunged as much as 14.5% during the March 24 trading session. Deutsche Bank’s profit reached its highest in a decade, vindicating the once-struggling lender’s turnaround plan, launched in 2019. “In the first quarter, we again proved the strength and resilience of Deutsche Bank in challenging conditions,” chief financial officer James von Moltke said in a statement. Barclays and Deutsche Bank’s results contrast with the troubles at First Republic Bank in the United States.

☆ Deutsche Bank logs 11th straight quarterly profit, reveals job cuts
▼ + stars: | 2023-04-27 | by ( Elliot Smith | ) www.cnbc.com time to read: +5 min

A Deutsche Bank AG branch in the financial district of Frankfurt, Germany, on Friday, May 6, 2022. The Thursday report nevertheless showed deposits fell over the course of the quarter to 592 billion euros from 621.5 billion euros at the end of 2022. watch nowDeutsche's corporate bank net revenues came in at 2 billion for the quarter, up 35% year-on-year and the highest quarterly figure since the launch of its transformation program. However, the bank also flagged job cuts for non-client facing staff and reported a sharper-than-expected 19% year-on-year fall in investment bank revenues year-on-year. He suggested that, in scrutinizing Deutsche Bank, market participants saw a strong and profitable business model, stable balance sheet and deposit base, a "very moderate" and "well underwritten" commercial real estate book and "no near-term financing needs."

FRANKFURT, April 26 (Reuters) - Deutsche Bank (DBKGn.DE) is undertaking its biggest management shake-up since 2019, the German bank said on Wednesday as it announced the departure of Christiana Riley, who oversaw its U.S. operations. "It is time to focus the management board on the next phase of the bank's growth strategy, which is now more than ever about sustainable profitability, efficiency and effective controls," Wynaendts said. Riley was one of two women on Deutsche's 10-member board, which will now only consist of only nine people - eight men and one woman - in what Deutsche said would be a "leaner" team. Claudio de Sanctis, a Deutsche veteran who has overseen wealth management, will join the board to oversee the retail bank, Deutsche said. And Chief Financial Officer James von Moltke will take on oversight of asset management, which includes its DWS fund management business.

☆ Deutsche Bank CFO discusses the lender's highest profit since 2007
▼ + stars: | 2023-02-02 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDeutsche Bank CFO discusses the lender's highest profit since 2007James Von Moltke, CFO of Deutsche Bank, discusses the company's fourth-quarter earnings and its strong performance, despite volatility and geopolitical issues.

☆ Deutsche Bank joins recent industry criticism of ECB
▼ + stars: | 2022-11-09 | by ( ) www.reuters.com time to read: 1 min

FRANKFURT, Nov 9 (Reuters) - Deutsche Bank (DBKGn.DE) on Wednesday waded into the financial industry's criticism of the European Central Bank, with the German lender's finance chief saying authorities should do more to champion banks. The ECB and other parts of official sector "should be moving to championing the banks to help the economy rather than not," Chief Financial Officer James von Moltke said at a financial conference. Reporting by Tom Sims, Editing by Miranda MurrayOur Standards: The Thomson Reuters Trust Principles.

The European Central Bank (ECB), which supervises euro zone banks, believes some lenders have overly optimistic assumptions about the economy, based on models that cannot fully capture the damage from the current bout of inflation, the sources say. Source: S&P Global-EBAMorgan Stanley estimates euro zone banks will pay out 40 billion euros ($40 billion) in 2022 dividends plus an additional 60 billion euros in share buybacks between this year and next - an outsized return by recent standards. "It's not a good idea to pay out capital during a recession," Intesa's Chief Executive Carlo Messina told analysts last week. "With the economy entering recession, the time of massive bank payouts is over," Marco Troiano, a managing director at Scope Ratings, said. "Running down capital cushions would weaken banks."

☆ European banks are posting bumper profits — but don’t buy their shares yet, strategist says
▼ + stars: | 2022-10-27 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

Those are comments from one investment advisor despite lenders on the continent posting bumper third-quarter results this week. Barclays on Wednesday reported net profits of £1.5 billion ($1.73 billion), while Deutsche Bank revealed a net income of 1.12 billion euros ($1.11 billion). Deutsche Bank's net interest margin grew to 1.5% in the quarter, up from 1.4% in the prior quarter and from 1.2% in the year-ago period. But this income source for banks is unlikely to be long-lived as European capitals debate imposing a "windfall tax" on banks' profits. Hickmore said that senior debt from European banks is more attractive now as they are immune to many risks banks face.

And Italy's UniCredit (CRDI.MI) raised its 2022 profit goal, helped by higher interest rates and lower loan loss provisions that also drove quarterly earnings above forecasts. For years, banks bemoaned ultra loose monetary policy, but now higher interest rates means banks can start to benefit from the increased gap between what they charge borrowers and what they pay savers. Standard Chartered's third-quarter profit surged 40% as higher interest rates boosted the emerging markets-focused bank's income, giving it ammunition to upgrade its revenue outlook despite a weakening global economy. For Santander, higher loan loss provisions in key markets like Brazil and the United States overshadowed better than expected third-quarter earnings. While benefiting from higher interest rates, banks also face the unwinding of a scheme that buoyed their profits for years.

☆ Deutsche Bank 'on track' to deliver ROTE target by 2025 despite costs: CFO
▼ + stars: | 2022-10-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDeutsche Bank 'on track' to deliver ROTE target by 2025 despite costs: CFOJames Von Moltke, CFO of Deutsche Bank, discusses the bank's third-quarter earnings and unchanged strategy despite inflationary costs.

☆ Deutsche Bank 'entirely supportive' of central bank rate hikes: CFO
▼ + stars: | 2022-10-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDeutsche Bank 'entirely supportive' of central bank rate hikes: CFOJames von Moltke, CFO of Deutsche Bank, discusses the ways the bank is set to benefit from a "normalization" of the current rate environment off the back of third-quarter results.

☆ Deutsche Bank logs ninth straight quarter of profit with big earnings beat
▼ + stars: | 2022-10-26 | by ( Silvia Amaro | ) www.cnbc.com time to read: +2 min

In this article .BBKA Follow your favorite stocks CREATE FREE ACCOUNTwatch nowDeutsche Bank on Wednesday crushed market expectations for the third quarter, amid higher interest rates and turbulent market trading. The bank reported a net income of 1.115 billion euros ($1.11 billion) for the quarter. Here are other highlights for the quarter: Revenues rose 15% from a year ago, and hit 6.92 billion euros. As a result, additional contingent risk fell to 0.2 billion euros, from the 0.6 billion euros at the end of the second quarter. Higher interest rates for longer?

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