Deutsche Bank's deal-making business weaker than expected, CEO says
FRANKFURT: Deutsche Bank's origination and advisory business is not as strong as the German bank had expected at the beginning of the year, CEO Christian Sewing said on Thursday.
Sewing said at a financial conference that the deal-making business will be weaker in the second quarter than executives had planned at the start of 2025 as companies postpone decisions in the wake of U.S. tariff policies.
"Will it be weaker than we initially thought? Yes. But to be honest, we talk about a lot of delayed, but not cancelled, deals," Sewing said.
Deal-making has slowed this year as U.S. President Donald Trump's tariffs on trading partners fanned turmoil in markets and sparked concerns about slowing economic growth. Other big banks, including Bank of America, have also warned of a slowdown in the business.
Sewing said he was optimistic about Deutsche's other business lines, like the corporate bank and retail bank, and Deutsche Bank is sticking to its targets, he said.
This is a crucial year for Deutshe Bank, Germany's largest lender, as it faces a deadline to meet ambitious targets on costs and profitability. (Reporting by Tom Sims, Editing by Rachel More)
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