Deutsche Bank said on Sunday that it would make major cutbacks to its investment...
) said on Sunday that it would make major cutbacks to its investment bank. [nL8N2480KD]
Deutsche Bank will exit its equities sales and trading business, which in 2018 bought in 1.96 billion euros in revenue, but will retain a small equity capital markets business. These assets and businesses represented 74 billion euros of risk-weighted assets and 288 billion euros of leverage exposure, as of December 31, 2018.Deutsche Bank says its focus going forward will be on corporate banking, foreign exchange, deals including equity and debt capital markets as well as M&A, private banking and asset management.In total Deutsche Bank said it expects the restructuring will cost it 7.4 billion euros between now and the end of 2022.
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