Deutsche Bank (XETRA: DBKGn.DE / NYSE: DB) today announced that it is significantly scaling back its commodities business. The business will now focus on Deutsche Bank’s core competencies of financial derivatives and precious metals.
This decision will result in Deutsche Bank exiting the dedicated trading desks for energy, agriculture, base metals and dry bulk. This will have no material impact on the Bank's financial results.
A Special Commodities Group has been established which will manage an orderly wind down of these businesses. The financial derivatives and precious metals businesses will be integrated into Deutsche Bank’s Fixed Income and Currencies platform to take advantage of existing synergies.
Colin Fan, Co-Head of Corporate Banking & Securities at Deutsche Bank, said: “As part of Strategy 2015+, we are actively managing and reviewing our business portfolio. The decision to refocus our commodities business is based on our identification of more attractive ways to deploy our capital and balance sheet resources. This move responds to industry-wide regulatory change and will also reduce the complexity of our business.”
For further information, please contact:
Deutsche Bank AG
Press & Media Relations
Phone: +44 207 547 2603
Phone: +49 69 910 32249
Phone: +49 69 910 33420
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