Stock Market News

Deutsche Bank CEO sees inflow of deposits in flight to quality

2023.03.15 09:54


© Reuters. FILE PHOTO: CEO of Deutsche Bank Christian Sewing arrives at the bank’s annual news conference in Frankfurt, Germany, Thursday, Feb. 2, 2023. Michael Probst/Pool via REUTERS

FRANKFURT (Reuters) – Deutsche Bank (ETR:) Chief Executive Officer Christian Sewing said on Wednesday that the German lender has seen incoming deposits over the last three to four days as customers fly to quality.

The chief of Germany’s top bank was speaking at a financial conference days after the collapse of Silicon Valley Bank and as bank shares were falling sharply.

Sewing said it was hard to draw conclusions from a few days but said that Deutsche had seen incoming deposits “because people are doing that what is usual in these times – fly to quality”. He didn’t cite figures.

“We should also be very clear that there is in my view no similarity” of events on the West Coast and European Banks, Sewing added.

Sewing also gave a taste of developments in the first quarter, noting that fixed-income and currency trading in the investment bank would be lower than a year earlier and that the revenue at the overall investment bank was “potentially a little bit lower” than analysts are predicting.

Asked about possible mergers and acquisitions, Sewing said during the last few years his focus had been on fixing the bank from within and that “there is still lots to do”.

Source link

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 82,855.20 1.23%
ethereum
Ethereum (ETH) $ 1,935.69 0.43%
tether
Tether (USDT) $ 1.00 0.01%
xrp
XRP (XRP) $ 2.29 1.89%
bnb
BNB (BNB) $ 627.13 1.11%
solana
Solana (SOL) $ 125.65 1.67%
usd-coin
USDC (USDC) $ 1.00 0.01%
cardano
Cardano (ADA) $ 0.705018 1.71%
dogecoin
Dogecoin (DOGE) $ 0.168503 2.60%
tron
TRON (TRX) $ 0.241098 8.90%
staked-ether
Lido Staked Ether (STETH) $ 1,934.80 0.50%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 82,672.15 1.24%
leo-token
LEO Token (LEO) $ 9.78 0.07%
chainlink
Chainlink (LINK) $ 13.96 0.64%
the-open-network
Toncoin (TON) $ 3.59 4.13%
usds
USDS (USDS) $ 1.00 0.00%
stellar
Stellar (XLM) $ 0.27526 1.25%
wrapped-steth
Wrapped stETH (WSTETH) $ 2,315.63 0.53%
hedera-hashgraph
Hedera (HBAR) $ 0.189784 0.44%
pi-network
Pi Network (PI) $ 1.16 13.00%
avalanche-2
Avalanche (AVAX) $ 19.08 1.05%
shiba-inu
Shiba Inu (SHIB) $ 0.000013 2.56%
sui
Sui (SUI) $ 2.29 3.60%
mantra-dao
MANTRA (OM) $ 7.03 0.27%
litecoin
Litecoin (LTC) $ 90.44 1.74%
polkadot
Polkadot (DOT) $ 4.49 3.04%
bitcoin-cash
Bitcoin Cash (BCH) $ 335.34 0.35%
bitget-token
Bitget Token (BGB) $ 4.61 3.62%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.01%
weth
WETH (WETH) $ 1,935.70 0.35%
binance-bridged-usdt-bnb-smart-chain
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00 0.24%
hyperliquid
Hyperliquid (HYPE) $ 14.27 8.21%
whitebit
WhiteBIT Coin (WBT) $ 28.19 0.94%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,056.96 0.51%
monero
Monero (XMR) $ 209.06 1.28%
uniswap
Uniswap (UNI) $ 6.40 1.44%
susds
sUSDS (SUSDS) $ 1.05 0.07%
aptos
Aptos (APT) $ 5.41 1.61%
okb
OKB (OKB) $ 53.74 5.24%
dai
Dai (DAI) $ 1.00 0.01%
near
NEAR Protocol (NEAR) $ 2.59 2.07%
pepe
Pepe (PEPE) $ 0.000007 1.21%
internet-computer
Internet Computer (ICP) $ 5.83 1.11%
mantle
Mantle (MNT) $ 0.814335 0.05%
gatechain-token
Gate (GT) $ 21.92 0.79%
ethereum-classic
Ethereum Classic (ETC) $ 17.77 0.22%
ondo-finance
Ondo (ONDO) $ 0.847338 1.62%
tokenize-xchange
Tokenize Xchange (TKX) $ 32.92 1.98%
aave
Aave (AAVE) $ 171.24 2.09%
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 82,803.19 1.37%