Deutsche Bank launches substantial growth programme in its Private & Business Clients division
- Sustainable orientation to more growth
- Investments in both Germany and European core markets
- Strong growth in staff coupled with greater efficiency
- Expansion of branch network by roughly 400 locations
- Pre-tax profit target of EUR 2 billion in 2012
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.
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About Deutsche Bank
Deutsche Bank is a leading global investment bank with a strong and profitable private clients franchise. A leader in Germany and Europe, the bank is continuously growing in North America, Asia and key emerging markets. With 80,253 employees in 75 countries, Deutsche Bank offers unparalleled financial services throughout the world. The bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people.