Frankfurt am Main, July 4, 2012

Deutsche Bank launches high performance retail banking platform


More than five million savings accounts at Deutsche Bank converted – Major step forward in the integration of Postbank and greater cost efficiency

Within its retail banking business, Deutsche Bank has launched operations of “Magellan”, the newest information technology (IT) and processing platform for banking services in Europe. “Magellan” comprises the entire IT infrastructure as well as all of the clearing and settlement processes of the Private & Business Clients (PBC) Business Division in Germany. The migration of more than five million savings accounts at Deutsche Bank to the new, high performance platform started on July 2. “Magellan” will provide the shared foundation for operating the branches of both Deutsche Bank and Postbank, representing a further step forward towards industrializing business processes and greater cost efficiency in PBC. By 2015 PBC will have invested approximately one billion euro in developing Magellan.

Rainer Neske, Management Board member of Deutsche Bank with responsibility for the Private & Business Clients franchise, said at the platform’s inauguration: “For our clients, Magellan will result in a faster and more efficient service as well as greater product quality. Magellan is a further milestone in implementing our integration strategy for Postbank and in establishing a retail banking powerhouse in Germany. With this investment, we are consolidating our position among the top retail banks in Europe and will be clearly and sustainably bringing our cost/income ratio down over the medium term in the Private & Business Client Business Division.”

All of the PBC accounts and business processes in Germany should be migrated step by step to Magellan by 2015. The new platform will then be fully operational for the more than 2,000 Deutsche Bank and Postbank branches, serving a combined total of 24 million private and business clients in Germany. Through the resulting simplification and standardization of its IT systems and all of its processing, the bank expects to generate cost synergies already in 2012 of around 200 million euro.
 

For additional information, please contact:

Deutsche Bank AG
Press & Media Relations

Christoph Blumenthal
Tel. +49 69 910-47048
Email: christoph.blumenthal@db.com

Anke Veil
Tel. +49 69 910-42846
Email: anke.veil@db.com

Klaus Thoma
Tel. +49 69 910-33405
Email: klaus.thoma@db.com 

 

About Deutsche Bank

Deutsche Bank is a leading global investment bank with a substantial private clients franchise. Its businesses are mutually reinforcing. A leader in Germany and Europe, the bank is continuously growing in North America, Asia and key emerging markets. With more than 100,000 employees in more than 70 countries, Deutsche Bank offers unparalleled financial services throughout the world. The bank competes to be the leading global provider of financial solutions, creating lasting value for its clients, shareholders, employees and the communities in which it operates.

www.db.com

 

This press 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 and in which we hold a substantial portion of our assets, the development of asset prices and market volatility, potential defaults of borrowers or trading counterparties, the implementation of our strategic initiatives, 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 March 20, 2012, in the section “Risk Factors”. Copies of this document are available upon request or can be downloaded from www.deutsche-bank.com/ir.




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