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Deutsche Bank is doubling down on defense investment as a broader European drive to rearm unlocks fresh capital in the region.
Speaking to CNBC’s Annette Weisbach at the Tag der Industrie conference in Berlin on Monday, Deutsche Bank CEO Christian Sewing said that the German lender has increased its exposure to the defense industry to the tune of “double-digit billion” euros.
“We have actually sized up not only our portfolio appetite, but also the resources we bring in in order to advise our clients,” he said.
Speaking more broadly about the industry, Sewing noted that “we have clearly, in particular on the European side, been under investing,” stressing that “defense is one of the core topics for a country, [and] I think we are always underestimating what the positive impact of defense spending is.”
