Deutsche Bank sticks to profit goal amid expectations of exiting…

FRANKFURT (Reuters) – Deutsche Bank (DBKGn.DE) said on Tuesday that it was committed to improving the bank’s profitability amid expectations that its shares would fall out of the Eurostoxx 50 index.

People are silhouetted next to the Deutsche Bank’s logo prior to the bank’s annual meeting in Frankfurt, Germany, May 24, 2018. REUTERS/Kai Pfaffenbach

Based on trading figures from August, Deutsche Bank is expected to lose its place in the index given a fall in the company’s market value, index strategists say.

“We expect that this will support the valuation of Deutsche Bank by the market, and therefore increase market capitalization,” The bank said in a statement. “This commitment, and our ongoing activities to strengthen the bank, are unaffected by the announcement by the index provider.”

Deutsche Boerse is the owner of the Eurostoxx index but declined to comment. A spokesman said an official statement on a scheduled Stoxx reshuffle would be made on Sept. 24.

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