Deutsche Bank Shares Slide on CFO Comments
21 Março 2018 - 1:16PM
Dow Jones News
By Sarah Sloat
Deutsche Bank AG (DBK.XE) shares slid Wednesday after its
finance chief said the company faces headwinds of about 450 million
euros ($553 million) in currency effects and funding costs in the
first quarter.
Speaking at a finance conference, Chief Financial Officer James
von Moltke said the strong euro would deal a EUR300 million blow to
Deutsche Bank's corporate and investment bank unit in the first
quarter. The impact of changes in the bank's funding process will
also burden the CIB unit, he said.
"We do have a headwind on a year-on-year comparison before you
get to business performance of about EUR450 million," Mr. von
Moltke said.
At 1535 GMT, Deutsche Bank shares traded at EUR11.96, down
5.5%.
Mr. von Moltke was speaking at the European Financials
Conference hosted by Morgan Stanley in London.
Write to Sarah Sloat at sarah.sloat@wsj.com
(END) Dow Jones Newswires
March 21, 2018 12:01 ET (16:01 GMT)
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