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Deutsche's overhaul is hitting investment bank revenue less than expected - CFO

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By Reuters
Deutsche's overhaul is hitting investment bank revenue less than expected - CFO
FILE PHOTO: James von Moltke, CFO of Germany's Deutsche Bank is pictured in Frankfurt, Germany, February 2, 2018. REUTERS/Ralph Orlowski   -   Copyright  RALPH ORLOWSKI(Reuters)

FRANKFURT (Reuters) – The negative impact of Deutsche Bank’s <DBKGn.DE> overhaul on investment banking revenue has so far been less than the German lender had anticipated, Chief Financial Officer James von Moltke said on Monday.

Von Moltke said that he was “quite encouraged” because pressure on revenue was “less than we had modelled and expected”, adding that revenue in the bank’s more stable business areas has continued to grow in the third quarter.

(Reporting by Tom Sims; Editing by Douglas Busvine)