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Deutsche Bank CEO sees inflow of deposits in flight to quality
Abstract：FRANKFURT (Reuters) – Deutsche Bank Chief Executive Officer Christian Sewing said on Wednesday that the German lender has seen incoming deposits over the last three to four days as customers fly to quality.
FRANKFURT (Reuters) – Deutsche Bank Chief Executive Officer Christian Sewing said on Wednesday that the German lender has seen incoming deposits over the last three to four days as customers fly to quality.
The chief of Germanys top bank was speaking at a financial conference days after the collapse of Silicon Valley Bank and as bank shares were falling sharply.
Sewing said it was hard to draw conclusions from a few days but said that Deutsche had seen incoming deposits “because people are doing that what is usual in these times – fly to quality”. He didnt cite figures.
“We should also be very clear that there is in my view no similarity” of events on the West Coast and European Banks, Sewing added.
(Reporting by Tom Sims and Marta Orosz; editing by Matthias Williams, Rachel More)
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