Deutsche Bank, the largest German bank, intends to simplify its structure by making transactions more effective and resilient, and increasing control within new strategy designed for 5 years.
The new strategy targets additional annual gross savings of €3.5 billion, closure of some branches, and also reorganization of investment bank.
The bank reckons on remaining the leading international bank in Germany focusing on key markets.
By the end of 2016, Deutsche Bank will sell its Postbank retail division via a stock market offering.
The investment bank is going to decrease the number of low-profit transactions and turn its attention to profitable spheres and client solutions. Deutsche is going to cut €200 billion in investment bank assets.
Besides, the overhaul implies the reduction in the number of countries or local presences of 10 – 15%, and investment in the most significant markets. About €1 billion is going to be invested in digital technologies.
The bank aims to reach the return on equity of no less than 10% in the medium term.
