Deutsche Bank CEO says no need for cap­i­tal in­crease: re­port

Pakistan Observer - - ECONOMY WATCH -

BERLIN—Deutsche Bank (DBKGn.DE) will not need a cap­i­tal in­crease for the fore­see­able fu­ture, its chief ex­ec­u­tive told Ger­man mag­a­zine Spiegel in an in­ter­view. “I be­lieve we can build up our cap­i­tal or­gan­i­cally, which we un­for­tu­nately didn’t do over many years,” John Cryan was quoted as say­ing on Satur­day. Ger­many’s largest bank has to gen­er­ate on av­er­age up to 2.5 bil­lion euros ($2.8 bil­lion) in ad­di­tional cap­i­tal to meet reg­u­la­tory re­quire­ments and Cryan said there would be no prob­lem achiev­ing that.

Deutsche Bank said in its first quar­ter re­sults it is tar­get­ing a sta­ble core tier 1 ra­tio of 11.1 per­cent at the end of this year, while it has un­til the end of 2019 to reach the re­quired 12.25 per­cent. Shares in Deutsche Bank were hit by Bri­tain’s June 23 vote to leave the Euro­pean Union, but Cryan said Deutsche Bank was in a bet­ter po­si­tion than U.S. ri­vals, which may now need to set up new sub­sidiaries out­side of Bri­tain.—AFP

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