DB - Deutsche Bank boosts tangible equity target to start buybacks assesses Russia

Deutsche Bank (NYSE:DB) is boosting its return on average tangible equity target to above 10% by 2025 and expects to achieve it through revenue growth, efficiencies, and self-funded investments. During its Investor Deep Dive event on Thursday, the German lender also unveiled 2025 targets for compound annual revenue growth of  3.5%-4.5% vs. 2021, with implied net revenue of ~€30B in 2025, and cost/income ratio below 62.5%. "Over the past three years, we have built strong foundations for a resilient and sustainably profitable Deutsche Bank (DB)," CEO Christian Sewing said. "Our strategy is now about shifting to sustainable growth and increased distributions to our shareholders." The company said it will start buying back stock under its up to €300M program on March 14 and will end it no later than April 27. Deutsche Bank (DB) also outlined its Russia exposure. "Our direct exposures are currently very limited and tightly managed," said

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Deutsche Bank boosts tangible equity target, to start buybacks, assesses Russia