Troubled German lender Deutsche Bank can survive without a merger or a taxpayer bailout, chairman insists
Troubled German lender Deutsche Bank can survive without a merger or a taxpayer bailout, chairman Paul Achleitner has insisted.
It is not likely to combine with its rival Commerzbank despite widespread speculation, Achleitner said.
He also insisted he would not step down after a year of turmoil, which saw the bank oust chief executive John Cryan and face money laundering probes.
Deutsche Bank shares fell more than 56 per cent in Frankfurt during 2018.
Achleitner told a German newspaper: 'Let's look at the facts: Deutsche Bank has a very strong capital basis compared to its competitors.'
He said new chief executive Christian Sewing was bringing costs under control and that Deutsche hopes to return to the black, after three years of losses.
Asked whether the bank would need financial support, Achleitner replied: 'This scenario will not come about.'
Deutsche shares fell more than 56 per cent in Frankfurt during 2018.
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