FRANKFURT: Deutsche Bank is aiming to cut up to a quarter of its riskiest assets in the next few years, people familiar with the matter said, shedding more light on how the German lender is trying to overhaul its business and revive profitability.
The bank has struggled to bounce back after the 2008 financial crisis and has been plagued by failed regulatory stress tests, multi-billion dollar fines and management upheavals and most recently a failed merger. The bank held 347 billion euros in such assets at the end of the first quarter, according to Deutsche's quarterly results. A 25per cent reduction would bring assets to about 260 billion euros.
Analysts and some investors would like to see a staff reduction of more than 10per cent for the overhaul to be credible.
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