With a substantial growth programme in its Private & Business Clients division, Deutsche Bank (XETRA: DBKGN.DE/ NYSE:DB) will continue its successful course of the past years, strengthen its market leadership in the German home market and enhance its strong position in Europe. To achieve this, Private & Business Clients aims to create roughly 2,500 new advisory positions in Germany and the European core markets over the next four years.
The bank will invest selectively in its European core markets and expand its branch network in Germany, Italy and Poland. The growth programme calls for the opening of roughly 400 new branches across Europe by 2012, 150 in Germany alone. In addition, Deutsche Bank will invest in building up a competitive European consumer banking franchise.
Rainer Neske, Head of Private & Business Clients and Member of Deutsche Bank’s Group Executive Committee: "We will strengthen our market leadership in our German home market, strongly expand our European business and invest in our advisory activities. With this programme, we are creating the basis for sustainable and profitable growth. We want to be the best bank with the best product and service offering at each of our locations."
In addition, Deutsche Bank will capture further growth potential in Germany through its partnership with Postbank and continues to follow its successful strategy for German private and business clients. Deutsche Bank will also continue to pursue the course it has successfully adopted in Asia. With planned investments in new employees and locations, the bank intends to bundle its strengths and bring its products and services even closer to its clients.
The growth programme will be accompanied by efficiency measures to bundle administrative activities and processes in banking services and structure them consistently to achieve greater efficiency. As part of these plans, the bank intends to reduce the number of European back-office jobs by around 1,100.
Through the growth programme, Deutsche Bank is looking to strongly attract new customers targeting a total of 18 million clients in Private & Business Clients by 2012. Private & Business Clients is also aiming for a cost/income ratio in line with European standards. Moreover, it intends to increase income before income taxes from EUR 1.1 billion in 2007 to EUR 2.0 billion in 2012.
This release contains forward-looking statements. Forward-looking statements are statements that are not historical facts; they include statements about our beliefs and expectations and the assumptions underlying them. These statements are based on plans, estimates and projections as they are currently available to the management of Deutsche Bank. Forward-looking statements therefore speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.
By their very nature, forward-looking statements involve risks and uncertainties. A number of important factors could therefore cause actual results to differ materially from those contained in any forward-looking statement. Such factors include the conditions in the financial markets in Germany, in Europe, in the United States and elsewhere from which we derive a substantial portion of our trading revenues, potential defaults of borrowers or trading counterparties, the implementation of our management agenda, the reliability of our risk management policies, procedures and methods, and other risks referenced in our filings with the U.S. Securities and Exchange Commission. Such factors are described in detail in our SEC Form 20-F of 26 March 2008 under the heading "Risk Factors." Copies of this document are readily available upon request or can be downloaded from www.deutsche-bank.com/ir .