Deutsche Bank Says WFH Cost Savings Are `Not Immaterial'

The transcript discusses the impact of the corona crisis on cost reductions, particularly in travel, entertainment, and real estate. It highlights Deutsche Bank's strategies for managing costs, including the shift to video meetings and remote work. The bank has seen significant savings and operational stability with over 65,000 employees working from home. The future of client meetings is expected to involve more video conferencing, though in-person meetings will remain essential. Overall, the crisis has prompted a reevaluation of travel and meeting practices, leading to more efficient and cost-effective operations.

What are the main areas where banks can save costs due to the corona crisis?

• Marketing, salaries, and utilities

• Travel, entertainment, and real estate

• Technology, training, and recruitment

• Legal, compliance, and auditing

What is one of the key benefits of conducting meetings virtually?

• Higher entertainment costs

• More efficient client interactions

• Increased travel expenses

• Reduced regulatory compliance

How did Deutsche Bank's remote work strategy perform during peak weeks?

• It was stable and efficient

• It caused a decline in client satisfaction

• It led to increased real estate costs

• It was unstable and inefficient

What is the expected impact on real estate costs due to remote work?

• Real estate costs will double

• Real estate costs will decrease

• Real estate costs will remain the same

• Real estate costs will increase

What is the anticipated trend for client meetings post-crisis?

• Only internal meetings will be in-person

• A mix of virtual and in-person meetings

• All meetings will be virtual

• No client meetings will be held

What percentage reduction in travel is expected for client meetings?

• No reduction

• Exactly 50%

• More than 10%

• Less than 5%

Why might internal meetings see a reduction in travel?

• Due to increased costs

• To increase travel time

• For efficiency and cost reasons

• Because of a lack of interest