Deutsche Bank : Recovery from the difficulties largely priced in, next phase a tougher call
>Conclusion – play on revenues already largely priced in - The group's recent results confirm the improvement in its situation. This improvement is set to continue, driven by a genuine decline in costs and, potentially, higher than expected revenues. However, even after upgrading our forecasts, the 2023 RoTE is not expected to exceed 5.5% (consensus = 5.4%), which is among the lowest levels in the sector. A much more significant improvement will need to be underpinned...Deutsche Bank is a holding company acting as an international financial service provider. Co. offers a wide variety of investment, financial and related products and services to private individuals, corporate entities and institutional clients around the world. Co. has operations or dealings with existing or potential customers in most countries in the world. Co. is organized into the following six corporate divisions: Global Markets (GM); Corporate & Investment Banking (CIB); Private, Wealth & Commercial Clients (PW&CC); Deutsche Asset Management (Deutsche AM); Postbank (PB); and Non-core Operations Unit (NCOU).
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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