Deutsche Bank (ETR:DBKGn), the German banking giant, saw a 6.9% increase in its share price, reaching €10.16, after the release of its Q3 results. The bank has reported a 3% revenue growth for the period ending September 30, despite a dip in Q3 net profit.
The bank has been working towards boosting shareholder returns through 2025 and beyond. It plans to unlock an additional 3 billion euros through risk-weighted asset cuts and a reduced Basel III impact. From 2022 to the first nine months of 2023, Deutsche Bank has disbursed approximately €1.57 billion to shareholders. The bank remains on track to meet its targets of €1 billion and €1.75 billion for both years respectively.
Looking ahead, Deutsche Bank also anticipates share buybacks in 2024. This strategic move is expected to free up additional capital, which analysts view as a positive development for the bank.
Both Citi and RBC Capital Markets analysts have expressed confidence in Deutsche Bank's outlook on increased capital returns. They believe that these measures should bolster investor confidence in the German banking giant.
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