Deutsche Bank says hitting profitability target has become more ambitious - EntornoInteligente /

FILE PHOTO: A statue is pictured next to the logo of Germany’s Deutsche Bank in Frankfurt, Germany September 30, 2016. REUTERS/Kai Pfaffenbach FRANKFURT (Reuters) – Deutsche Bank ( DBKGn.DE ) said on Tuesday that reaching its 2022 return on equity target of 8% has become more ambitious due to headwinds such as low interest rates in the euro area.

For its core bank, which excludes its internal bad bank, Deutsche Bank set a post-tax return on tangible equity target of above 9% in 2022.

It said that it expected low interest rates to primarily impact the Private Bank and Corporate Bank division in the mid-term, although revenue growth from the investment bank should partially offset this.

In a statement ahead of an investor day, the bank also said that asset reduction in the capital release unit was running ahead of plan.

Reporting By Arno Schuetze; editing by John O’Donnell


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