FRANKFURT (Reuters) – Deutsche Bank foresees revenue at its fixed-income and currency business exceeding consensus expectations in the third quarter, while consensus forecasts for revenue at its retail business are a bit high, chief financial officer James von Moltke said on Thursday.
The sneak peak for the three months through September is significant because it provides insight into the financial performance of Germany’s largest bank as it seeks to meet a series of profitability and cost targets for the full year.
“We’re well on our way to achieving those goals,” von Moltke said at a financial conference.
Revenue at Deutsche’s fixed-income and currency business, one of the bank’s largest divisions, is set to rise in the third quarter by a high single-digit percentage, ahead of consensus expectations, von Moltke said.
Analysts have until now forecast 4% revenue growth at the division for the quarter.
At the retail unit, analysts have been forecasting a 4.5% increase in revenue in the third quarter from a year earlier, but von Moltke said the consensus “may be just a touch too high”.
(Reporting by Tom Sims; Editing by Ludwig Burger and Madeline Chambers)
