Bulletin: Deutsche Bank Reports Solid 2020 Results

LONDON (S&P Global Ratings) Feb. 4, 2021--S&P Global Ratings notes the good results for financial year 2020 that Deutsche Bank reported today. Our base case for Deutsche Bank since we assigned the negative outlook in April 2020 has centered on two key expectations: it would emerge from this deep, but short-term, cyclical downturn with a resilient balance sheet; and it would clearly benefit from a more efficient, focused, and well-controlled business and operating model. We see this second element as critical to allow management to deliver its targeted 8% return on total equity by 2022. Most importantly, it will also enable the bank to achieve the operating and franchise stability and the sustainable, predictable performance that it has lacked since

...February 4, 2021 LONDON (S&P Global Ratings) Feb. 4, 2021--S&P Global Ratings notes the good results for financial year 2020 that Deutsche Bank reported today. Our base case for Deutsche Bank since we assigned the negative outlook in April 2020 has centered on two key expectations: it would emerge from this deep, but short-term, cyclical downturn with a resilient balance sheet; and it would clearly benefit from a more efficient, focused, and well-controlled business and operating model. We see this second element as critical to allow management to deliver its targeted 8% return on total equity by 2022. Most importantly, it will also enable the bank to achieve the operating and franchise stability and the sustainable, predictable performance that it has lacked since 2014. Today's results indicate that Deutsche Bank's operational restructuring remained on track. Buoyant capital markets activity and strong client demand for risk management solutions supported the bank's revenue base, offsetting...

Bulletin