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Apr 28 2021, 6:16 PM
April 28 2021, 10:27 AM
April 28 2021, 6:16 PM
(Bloomberg)
(Bloomberg)
Half-way through his restructuring of Deutsche Bank AG, Chief Executive Officer Christian Sewing took a big step toward convincing investors that Germanyâs largest lender is no longer just a âshow-meâ case.
The bank on Wednesday raised its outlook after beating Wall Street traders for a third straight quarter. The performance handed Sewing the strongest profit in seven years and fueled the biggest jump in the shares in almost a year. And in a quarter that left many competitors blindsided by the collapse of Archegos Capital Management, Deutsche Bank once infamous for lapses in controls steered clear of the carnage. Even long-term skeptics were impressed.