Deutsche Bank Plans To Deconsolidate Postbank, Reduce Leverage In CB&S

(RTTNews) - Germany's biggest lender Deutsche Bank (DB) announced its decisions upon the next phase of its strategy, including plan to reduce leverage in Corporate Banking & Securities, deconsolidate Postbank, invest in its transaction banking, asset and wealth management, and retail businesses.

The company's Supervisory Board on Friday decided unanimously to support the proposal submitted by the Management Board.

Reports suggest that the company plans to cut its holding of Postbank to below 50 percent by selling shares to the public.

The Bank also plans to continue to redesign its operating and governance models to achieve greater efficiency and a more robust control environment. Furthermore, Deutsche Bank will increase its investments in digital banking and rationalize its geographic footprint.

Deutsche Bank, which agreed on Thursday to pay $2.5 billion penalty to settle rate-rigging case, plans to announce detail of the strategy on Monday, April 27 and disclose its first quarter results on Sunday, April 26.

DB closed Friday's regular session at $34.26.