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Deutsche Bank pledges overhaul to boost earnings, cut risk

It will sell 200 billion euros in investment bank assets and exit a tenth of the countries in which it operates

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Deutsche Bank co-chief executive Anshu Jain promises analysts that the bank will be back with strong details in a few months.

Frankfurt

DEUTSCHE Bank will cut 200 billion euros (S$289 billion) in investment bank assets and exit a tenth of the countries in which it operates as part of a restructuring programme designed to boost earnings and cut risk.

After sticking with its costly universal banking model