Deutsche vows to restructure without using shareholder funds
CEO Christian Sewing funding overhaul of Germany's leading bank by running a lower capital buffer
Frankfurt — Deutsche Bank CEO Christian Sewing has vowed that the bank will execute one of the largest restructurings in its history without the need for extra shareholder funds as he seeks to build credibility with investors.
The lender’s common equity Tier 1 (CET1) ratio — a key metric of financial strength — will be above 13% through the end of the year, while the lender’s main regulator reduced its capital burden on the bank for next year as Sewing begins to shrink and simplify Germany’s biggest lender. The bank has said that it wants to keep its CET1 level at 12.5% or higher through 2022...