FRANKFURT – Germany's Deutsche Bank says it is in good financial shape and will push ahead with cost cuts to bolster profitability - and its CEO says working from home could play a role in that.
CEO Christian Sewing said at the company's annual shareholder meeting, held online due to the coronavirus outbreak, that the company was on track to meet its goals for cutting its cost base to 17.0 billion euros ($18.6 billion) in 2022 from 21.5 billion euros last year.
The company will not pay a dividend as it carries out a far-reaching restructuring aimed at eliminating riskier and less profitable businesses and focusing on its European client base.