Deutsche expects to end loss-making run in 2018 despite redundancies
Deutsche Bank.
Frankfurt - DPA
Deutsche Bank expects to report profits in 2018, ending a loss-making run spanning three years, the German lender said on releasing its third-quarter results on Wednesday.
"We are on track to be profitable in 2018, for the first time since 2014," Chief Executive Christian Sewing said.
The bank is currently struggling with the balancing act of maintaining and even expanding the business while cutting the number of jobs.
"We have our costs under control and sufficient capital to grow," Sewing said. The restructuring is reportedly going according to plan.
There were 94,717 full-time positions at the Frankfurt-based lender at the end of the third quarter, 700 fewer than at the end of June. The number is set to drop further to 93,000 by the end of the year, and less than 90,000 by the end of next year.
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