Deutsche Bank investors ask if profits sustainable, question strategy
Deutsche Bank (DBKGn.DE) investors on Wednesday questioned the sustainability of the lender’s growth plans and called for a shift of resources from the investment bank, even as they praised CEO Christian Sewing for stabilising the bank.
The statements, made at Deutsche Bank’s annual general meeting, come after the bank booked 11 consecutive quarters of profit after years of losses, but also amid bank rescues on both sides of the Atlantic that have shaken confidence in the sector.
Andreas Thomae of the Deutsche Bank investor Deka said that the bank’s targets require a “tailwind” from the markets to be achievable, and rising interest rates have been “pure adrenaline” for the bank.
“But how sustainable are these increases?” he asked management.
Alexandra Annecke, a portfolio manager at Union Investment, another investor, said Deutsche Bank had made a “comeback like a Phoenix rising from the ashes” but that a lot of work remained.
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