Deutsche Bank sees $550 mln Q1 impact from strong euro, funding costs

* CFO sees 300 mln euro currency headwind in Q1

* CFO sees 150 mln euro impact from higher funding costs

* CFO stresses Q1 2017 was strong

* Shares (Berlin: DI6.BE - news) down 5.7 percent (Updates with details, background)

FRANKFURT, March 21 (Reuters) - A strong euro and higher funding costs would have a 450 million euro ($553 million) impact on Deutsche Bank (IOB: 0H7D.IL - news) in the first quarter of the year, the German lender's finance chief warned on Wednesday.

James von Moltke, the bank's chief financial officer, said a stronger euro was turning out to be a 300 million euro drag on the investment bank, while the cost of funding would be an additional 150 million euros.

"We do have a headwind on a year-on-year comparison before you get to business performance of about 450 million euros," von Moltke said at an investor conference in London.

The outlook for the first quarter comes after the bank posted three consecutive years of losses. Last week, it disclosed an even bigger than previously disclosed 2017 loss of 735 million euros but expressed cautious optimism about 2018.

"We remain committed to our objective of delivering a net profit and a competitive dividend payout for 2018," Deutsche's Chief Executive Officer John Cryan said on Friday.

Shares in the bank were down 5.7 percent at 1344 GMT.

Von Moltke noted that the first quarter of last year was a strong one, complicating the picture when comparing the first quarter of this year.

The revenue base of Deutsche Bank's investment bank is 40 percent dollar denominated or linked to the dollar, von Moltke said when explaining the negative currency effect of a stronger euro. ($1 = 0.8139 euros)

(Reporting by Tom Sims Editing by Keith Weir)