FRANKFURT (Reuters) -Deutsche Bank Chief Executive Christian Sewing said on Thursday that the lender will seek a more ambitious target for a key profit metric in the years ahead.
This year the bank is aiming for a 10% return on tangible equity.
“To be a leading bank in Europe, we need to increase it to higher than 10%. I’m not giving you the number,” he said at a conference in Switzerland.
This is a crucial year for Deutsche Bank as it winds up a three-year plan and attempts to meet a series of targets that some analysts deem overly ambitious.
Sewing was recently appointed for a third term as CEO and has been working with his reshuffled management board to consider new targets for the years ahead.
He has previously said that the bank could close some businesses and that “nothing is off limits”, but on Thursday he said he wasn’t changing the bank’s strategy.
(Reporting by Tom SimsEditing by David Goodman)
