Deutsche Bank Increases Prime Lending Rate to 7.00%

Rhea-AI Summary

Deutsche Bank has announced an increase in its prime lending rate from 6.25% to 7.00%, effective November 3, 2022. This decision reflects adjustments in the market lending environment. Deutsche Bank provides a variety of financial services including commercial and investment banking, retail banking, transaction banking, and asset management, and is recognized as Germany's leading bank with a strong presence in Europe and significant operations in the Americas and Asia Pacific.

Positive

• Increase in prime lending rate may enhance bank's interest income.
• Reflects strong market positioning and ability to adjust to market conditions.

Negative

• Increased lending rates may deter potential borrowers, impacting loan volume.
• May lead to reduced competitiveness in the lending market.

NEW YORK--(BUSINESS WIRE)-- Deutsche Bank today announced that its New York Branch, Deutsche Bank New York (DBNY), and its affiliate Deutsche Bank Trust Company Americas (DBTCA) have increased their prime lending from 6.25% to 7.00% effective tomorrow, November 3, 2022.

About Deutsche Bank

Deutsche Bank provides commercial and investment banking, retail banking, transaction banking and asset and wealth management products and services to corporations, governments, institutional investors, small and medium-sized businesses, and private individuals. Deutsche Bank is Germany’s leading bank, with a strong position in Europe and a significant presence in the Americas and Asia Pacific.

This release contains forward-looking statements. Forward-looking statements are statements that are not historical facts; they include statements about our beliefs and expectations and the assumptions underlying them. These statements are based on plans, estimates and projections as they are currently available to the management of Deutsche Bank. Forward-looking statements therefore speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.

By their very nature, forward-looking statements involve risks and uncertainties. A number of important factors could therefore cause actual results to differ materially from those contained in any forward-looking statement. Such factors include the conditions in the financial markets in Germany, in Europe, in the United States and elsewhere from which we derive a substantial portion of our revenues and in which we hold a substantial portion of our assets, the development of asset prices and market volatility, potential defaults of borrowers or trading counterparties, the implementation of our strategic initiatives, the reliability of our risk management policies, procedures and methods, and other risks referenced in our filings with the U.S. Securities and Exchange Commission. Such factors are described in detail in our SEC Form 20-F of 11 March 2016 under the heading “Risk Factors”. Copies of this document are readily available upon request or can be downloaded from www.db.com/ir.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221102006140/en/

Deutsche Bank

Dylan Riddle

Dylan.Riddle@DB.Com

212-250-4982

Press and Media Relations

Source: Deutsche Bank

FAQ

What is the new prime lending rate announced by Deutsche Bank?

Deutsche Bank has increased its prime lending rate from 6.25% to 7.00%.

When will the new prime lending rate take effect for Deutsche Bank?

The new prime lending rate will take effect on November 3, 2022.

How does the increase in the prime lending rate affect Deutsche Bank's operations?

The increase may enhance Deutsche Bank's interest income but could also deter potential borrowers.

What financial services does Deutsche Bank provide?

Deutsche Bank offers commercial and investment banking, retail banking, transaction banking, and asset management.

What is Deutsche Bank's stock symbol?

Deutsche Bank's stock symbol is DB.