Deutsche Bank Target Merger Cost Savings
(18 May 2020 – Europe) Deutsche Bank has completed a merger between its private banking and business banking units in Germany. This step has been taken as part of its restructuring process amid the COVID-19 pandemic.
Going forward, the bank hopes to be able to save costs, reduce duplication and operate all of its private and business banking services as per usual.
“The bank has transferred 41,000 assets over recent weeks and adapted hundreds of documents, an effort that involved more than 600 employees” stated Deutsche Deputy CEO, Karl von Rohr.
“Often, banks may find themselves reconfiguring their internal structure to meet the changing demands and needs of their clients. Only by doing so will banks then be able to operate with maximum efficiency ”, says Pierre Sokoya, East’s Europe Market Analyst.
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