Louis Goss is a MarketWatch reporter based in London.
Shares in Deutsche Bank surged on Wednesday as the German financier said it plans to profit on increased volatility in global markets, and boost shareholder returns using an extra €3 billion worth of capital it expects to free up by 2025.
The company CFO in turn pointed to a 40% uptick in incremental deals won by its corporate division in the first nine months of 2023, as he outlined plans to capitalize on current “momentum” around booming demand for advice. The bank’s revenues were buoyed by a 21% uptick in revenues from its corporate banking division, to €1.9 billion, and a 3% uptick in income from its private banking division, to €2.3 billion, as it benefited from higher interest rates and an increase in new corporate and retail clients.
Looking forward, the bank said it expects to free up €3 billion worth of extra capital by 2025, due to staff cuts and a lesser-than-expected impact from Basel III regulations that govern the sums international lenders must hold in the form of capital reserves.
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