Deutsche Bank sees fall in industry revenue this year
Clients are likely to pull back from trading some fixed-income securities and refrain from doing deals; lender's co-CEOs say volatility in markets has impacted banking sector
Frankfurt
DEUTSCHE Bank AG, which runs Europe's biggest investment bank, said it expects the industry's revenue to decline this year as clients consider pulling back from trading some fixed-income securities and refrain from doing deals.
Securities firms will see debt trading revenue fall "slightly" from a year earlier as "an increase in macro revenues due to monetary policy divergence will be more than offset by lower credit revenues", Deutsche Bank said in a statement from Frankfurt on Friday. Income from equity trading will probably be "moderately lower" in 2016, while corporate finance industry fee pools will fall due to a decline in deals to advise on, it said.
"The beginning of 2016 has seen volatility in the world's financial markets," co-chief executive officers John Cryan and Juergen Fitschen said in a note to shareholders. "This has impacted the banking sector. The seasonally strong first quarter might turn out to be challenging for the sector overall. Deutsche Ba…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
JPMorgan talking with investors about two synthetic risk transfers
HSBC says growing Chinese wealth fuels client investments in US
Money laundering accused Su Baolin to plead guilty after being handed 3 more charges
UBS flags 'serious' concern about new Swiss capital requirements
Lloyds bank says quarterly profits sink on higher costs
US seeks 36 months’ jail for Binance founder Zhao