Deutsche Bank is planning to overhaul its trading operations by creating a so-ca...
FRANKFURT - Deutsche Bank is planning to overhaul its trading operations by creating a so-called bad bank to hold tens of billions of euros of non-core assets, a source close to the matter said on Monday.
The overhaul, first reported by the Financial Times, will also include shrinking or shutting equity and rates trading businesses outside of Europe. The measures are part of a significant restructuring of the investment bank, a major source of revenue for Germany’s largest lender, which has struggled to generate sustainable profits since the 2008 financial crisis.
Shares in Deutsche, which have recently traded at record lows, rose 3% in early trade in Frankfurt to top the list of German blue chip shares.
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