The German banking heavyweight has reported record losses, weighed down by a series of scandals. Hans-Peter Burghof from the University of Hohenheim says Deutsche Bank must become more cautious and reliable for its clients.
CEO John Cryan has signalled that Germany's biggest lender will need to cut more of its 97,000-strong workforce. He sees artificial intelligence replacing many of the bank's back office roles.
German lender Deutsche Bank has presented its second-quarter earnings report, pointing to surging net and underlying profits. But Chief Executive John Cryan is unhappy about a drop in revenues across all divisions.
Germany's biggest lender has accrued a massive loss for the second year running as legal costs for past misdeeds outstripped profits from bond trading, disappointing investors who had hoped for a better result.
The situation must be really bad for a firm that tries to sell a gigantic loss as a success story, as Deutsche Bank has done. After a year of transition, it's time for CEO John Cryan to deliver, says DW's Henrik Böhme.
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