Percent Cost: Bank and Euros

percent cost: Boss Christian Sewing on Sunday effectively called time on the lender's multi-decade attempt to create a global investment bank with a plan to shrink its trading unit and put 288 billion euros 323 billion of assets into runoff, according to Global Times China. The retreat, however, depends on friendly markets and an absence of blunders. By that metric, Deutsche Bank is just beginning to mature. Germany's biggest bank by assets is admitting to what investors had long suspected its target for a return on tangible equity of 4 percent in 2019 was a mirage and its profit-munching investment bank needs deeper restructuring. The slimmer bank would have total adjusted expenses of 17 billion euros by 2022 - down from 23.5 billion euros last year - and a 70 percent cost-to-income ratio. To effect the latter, Sewing plans to shut down equities trading entirely and downsize Deutsche's rates and fixed income businesses. (news.financializer.com). As reported in the news.