Now is the time to buy Deutsche Bank CGAThompson
Deutsche Bank is preparing to create a so-called bad bank to hold tens of billions of euros of assets as Chief Executive Christian Sewing considers drastically restructuring the German lender’s investment bank, the Financial Times reported on June 16.
The plan would see the bad bank “house or sell assets valued at up to €50bn after adjusting for risk”, the article said. Deutsche’s equity and rates trading businesses outside continental Europe faced the biggest cutbacks, the FT said, citing four anonymous people briefed on the plan.The bank said: “Deutsche Bank is working on measures to accelerate its transformation so as to improve its sustainable profitability. We will update all stakeholders if and when required.”
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