Negative rates, intense competition spell gloom for German banks
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Frankfurt
DEUTSCHE Bank AG chief executive officer John Cryan's troubles range from the company's mounting legal costs to stricter regulation that's eroding returns. And there's at least one challenge he shares with his German rivals: Europe's most competitive market.
"Deutsche Bank still has a lot to deal with, but the German market as a whole is pretty rotten," said Martin Wilhelm, founder of IfK GmbH, which manages more than 600 million euros (S$911 million) of fixed-income securities in Kiel, Germany. "It's really hard for banks to make money here."
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