Deutsche Bank Shares Fall 4.5% as CFO Flags Flat to Lower Q3 Investment Bank Revenue

Zacks Investment Research··DEUS·Read original
3▲0 ▼2Impact / 5
Summary · why it matters

Deutsche Bank shares fell 4.5% after CFO Raja Akram said the Investment Bank's third-quarter revenues could be flat to slightly lower year over year, depending on activity in the final days of the quarter. Speaking at the Bank of America 31st Annual Financials CEO Conference, Akram noted the cautious view comes against a strong third-quarter 2025 comparison, when Investment Bank revenues jumped 18% year over year on strong Fixed Income & Currencies performance and robust credit trading. In the current quarter, FIC activity was healthy in July before slowing seasonally in August, while September trends have been mixed and credit trading sits below the year-ago level, though deal activity in mergers and acquisitions, equity offerings and debt issuance has remained strong. Management also raised its 2026 net interest income outlook to slightly above its previously provided guidance of nearly €14 billion, with structural hedges expected to contribute more meaningfully in 2027 and 2028. Separately, Goldman Sachs CEO David Solomon said investment-banking activity remained solid, while Bank of America CEO Brian Moynihan projected third-quarter investment-banking fees of $1.6-$1.8 billion versus $2 billion a year earlier, a decline of about 15% at the midpoint.

Impact on assets 3

Financials▼ · 3 stocks
Deutsche Bank Aktiengesellschaft
DBK
▼ NegativeCapitalrelevance

CFO Akram flagged Q3 Investment Bank revenues could be flat to slightly lower year over year, sending shares down 4.5%.

Bank of America Corp
BAC
▼ NegativeCapitalrelevance

BofA CEO Moynihan projected Q3 investment-banking fees of $1.6-$1.8B, down ~15% from $2B a year earlier.

Goldman Sachs Group Inc
GS
± MixedCapitalrelevance

Goldman CEO Solomon said investment-banking activity remained solid, a passing positive comment with no company-specific figures.

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