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The bank said its market share across origination and advisory in the first half of the year was 2.5%, versus 2.3% in the first half of 2019, referencing Dealogic data.
“The dislocation in the markets due to Covid has meant that some of the things that Deutsche Bank has been known for — for a long time — became a lot more valuable: a strong sales effort, distribution and risk taking capabilities,” said Johnsson.
“There hasn’t been a lot of volatility in the market in the last few years, and so it made everything look easy. So when the market started becoming more difficult, a lot of the clients went back to the banks that have the expertise and the infrastructure to get a deal done in difficult markets. That played to our strengths.”
He continued: “The market share that we gained was due to issuers calling Deutsche Bank rather than spreading out the business among many other banks.”
Deutsche made €470m in debt origination, versus a consensus estimate of €326m, “reflecting record industry volumes and market share gains in investment grade debt,” it said.
The bank provides adjusted figures for the second quarter of 2019 rather than what it actually reported at the...