Barclays, Deutsche Bank face slowdown at investment banks
European bank shares are being undermined by concern over industry's profit sustainability
Add BT as a preferred source
London
BARCLAYS plc and Deutsche Bank AG, both in the midst of overhauling their investment-banking operations, are facing an even tougher slog to boost profitability as market turbulence threatens to undermine revenue.
Barclays said on Thursday it's accelerating a plan to focus on "core strengths and running the business for returns", while shutting offices in nine countries. Deutsche Bank, based in Frankfurt, said on Wednesday that revenue dropped about 16 per cent in the fourth quarter from a year earlier, driven by its securities unit, Europe's largest.
TRENDING NOW
ComfortDelGro’s Zig to buy S$10 million worth of BYD cars for private-hire fleet
From sales executive to DBS chairman: A look at banking veteran Peter Seah’s career
Japan Home licenses Singapore retail stores to Valu$ owner Radha Exports
Japan Home closing outlets; staff say Valu$ taking over operations
