Deutsche's overhaul is hitting investment bank revenue less than expected - CFO

Credit: REUTERS/Andrew Kelly

The negative impact of Deutsche Bank's overhaul on investment banking revenue has so far been less than the German lender had anticipated, Chief Financial Officer James von Moltke said on Monday.

FRANKFURT, Sept 9 (Reuters) - The negative impact of Deutsche Bank's DBKGn.DE overhaul on investment banking revenue has so far been less than the German lender had anticipated, Chief Financial Officer James von Moltke said on Monday.

Von Moltke said that he was "quite encouraged" because pressure on revenue was "less than we had modelled and expected", adding that revenue in the bank's more stable business areas has continued to grow in the third quarter.

(Reporting by Tom Sims Editing by Douglas Busvine)

((Tom.Sims@thomsonreuters.com; +49 69 7565 1242; Reuters Messaging: tom.sims.thomsonreuters.com@thomsonreuters.net))

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