Dhe CEO of Deutsche Bank, Christian Sewing, spreads confidence. “Our balance sheet is as robust as I have never experienced in my 30 years at Deutsche Bank,” said Sewing in an interview with the Frankfurter Allgemeine Sonntagszeitung (F.A.S.) when the first bank would tip over. The entire interview will be held in the F.A.S. appear.
Of course, the situation is a challenge for many economic sectors. “But the banking system is much more stable today than it was before the financial crisis. We have significantly larger equity and liquidity buffers, the balance sheets are tidy and much more transparent. “When asked how high the risk would be that loans would default if the companies lost income because of Corona, Sewing said:” It basically depends how heavily and above all how long Corona is burdening the economy.
And that is not yet foreseeable. I am confident for Deutsche Bank because we continue to manage our balance sheet very conservatively. ”Many companies would have done their homework. Nevertheless, it is now being considered how the customers could be supported. “Now it is important that companies stay liquid.”
The CEO said of the new historical low for Deutsche Bank shares: “Of course we cannot avoid such a broad downward trend.” These are not Deutsche Bank-specific issues. “With our new strategy, we are on the right track to make our bank profitable again in the long term.” Deutsche Bank’s share price fell below 5 euros on Thursday.