Frankfurt When CEO Christian Sewing announced his major restructuring program for Deutsche Bank in the summer of 2019, investors had great doubts. Almost three years later, Sewing still has to do some convincing, but his credibility has increased significantly: “With a little momentum, Deutsche Bank can do it,” says Andreas Thomae, fund manager at Deka Investment. Even if the question of how sustainable the turnaround really is has not yet been definitively answered.
At the balance sheet press conference on Thursday, Sewing was full of optimism and reported a good start to the third and, for the time being, final year of transformation. “The first few weeks went very well,” emphasized the banker. The bank will use this momentum “to keep our promises in 2022 and to lay the foundations for further growth beyond 2022”.
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