FRANKFURT — Investors will reward Deutsche Bank for its cost cutting, a member of the German lender's management board said in a newspaper interview published on Sunday. Asked by the Frankfurter Allgemeine Sonntagszeitung whether investors would be willing to give the bank much more time to execute a turnaround, board member Christian Sewing said: "My impression is that our discipline in reducing costs will go rewarded." Last week, the bank posted a 10 percent drop in revenue in the third quarter, reflecting a weak market and the effects of a major restructuring. Advertisement Continue reading the main story"You see that earnings in some divisions are rising again," Sewing said. "If we continue this quarter after quarter, I'm very optimistic."

Source: New York Times October 29, 2017 10:30 UTC