Deutsche Bank Prepared for Economic Downturn -CEO
04 September 2019 - 8:06PM
Dow Jones News
Deutsche Bank AG's (DBK.XE) chief executive says the German
lender is well prepared for an economic downturn with its new
strategy.
"Even in a difficult environment, we expect to be able to
increase returns for our shareholders while freeing up capital,"
Christian Sewing said at an industry event in Frankfurt.
Two months ago, the bank said that it would cut around 18,000
jobs by 2022, slash costs by around EUR6 billion compared with 2018
and realign its business areas.
Work is underway to speed up the integration of Postbank and
Deutsche Bank, and infrastructure will be streamlined, Mr. Sewing
said, adding that Europe's banking industry needs to do more to
consolidate.
Write to Matthias Goldschmidt at
matthias.goldschmidt@wsj.com
(END) Dow Jones Newswires
September 04, 2019 05:51 ET (09:51 GMT)
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