End of downsizing era: Deutsche CEO
(12 April 2017 – Germany) Deutsche Bank's chief executive has indicated that an extended period of downsizing within the lender was over, following an €8 billion capital increase to cover and meet regulator expectations.
"It is clear that we will not succeed by shrinking further," John Cryan said in a letter to staff published on the company's website.
"Our capital increase should eliminate any remaining doubt about Deutsche Bank's stability. This is why it's even more important to focus on a topic that has been in the background for quite some time: growth."
He added that a prudent approach to expanding its business would be taken going forward.
"None of us want to generate revenues that will need to be paid back in future, for example due to litigation costs. None of us want to experience a multi-billion dollar request arising from this ever again," Cryan said.
Adding, "They [investors and analysts] have seen first-hand how well banks are recovering in their home market and how profitable they can be. They expect us to turn the corner too."
Subscribe