Deutsche Bank Warns of Costs as Inflation Headwinds Build

Chief Executive Officer Christian Sewing has so far stuck with the key pledge of his four-year turnaround plan, an 8% return on tangible equity this year. He’s benefited from a years-long trading rally and, more recently, rate increases by the European Central Bank and the Federal Reserve. But with the economy slowing, inflation showing no signs of easing and multiple other challenges piling up, prospects for the rest of the year have clouded over.