Germany’s largest lender, reporting its first results after deciding to exit equities trading and slash a fifth of the workforce, saw earnings from trading debt securities and currencies drop 13%, compared with gains at all big Wall Street peers.
Frankfurt: Chief executive officer Christian Sewing’s sweeping revamp of Deutsche Bank AG failed to arrest a slump in revenue, led by declines in one of its areas of traditional strength: fixed income trading.
Germany’s largest lender, reporting its first results after deciding to exit equities trading and slash a fifth of the workforce, saw earnings from trading debt securities and currencies drop 13%, compared with gains at all big Wall Street peers.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
