Deutsche Bank Increases Prime Lending Rate to 8.00%

Rhea-AI Summary

Deutsche Bank announced that its New York Branch and Deutsche Bank Trust Company Americas have increased their prime lending rate from 7.75% to 8.00%, effective March 23, 2023. This change reflects the bank's ongoing adjustments in response to market conditions. Deutsche Bank is a leading financial institution providing a range of services including commercial and investment banking, retail banking, and asset management. The bank maintains a strong presence in Europe, the Americas, and Asia Pacific.

Positive

• Prime lending rate increased, indicating enhanced credit conditions.
• Continued growth in banking services reflects robust market strategy.

Negative

• Potential increase in borrowing costs may deter some clients.
• Rising lending rates could lead to higher defaults among borrowers.

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 7.75% to 8.00% effective tomorrow, March 23, 2023.

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/20230322005778/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 for Deutsche Bank effective March 23, 2023?

The new prime lending rate for Deutsche Bank is 8.00%, up from 7.75%.

Which branches of Deutsche Bank announced the increase in prime lending rates?

The increase was announced by Deutsche Bank's New York Branch and Deutsche Bank Trust Company Americas.

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

The increase in prime lending rate generally raises borrowing costs for clients.

What are the implications of the prime lending rate increase for Deutsche Bank (DB)?

The implication of the increase may include potential higher default risks and impacts on client borrowing decisions.