Daily News: April 27, 2015

Deutsche Bank to Cut $218B in Investment Bank Assets

Reuters reported Deutsche Bank will cut 200 billion euros ($217.5 billion) in investment bank assets and exit a tenth of the countries in which it operates as part of a restructuring program designed to boost earnings and cut risk.

According to Reuters Germany’s largest bank is under pressure from investors to follow rivals such as UBS UBSN.VX and Credit Suisse by culling unprofitable operations, after sticking with a costly universal banking model in the aftermath of the financial crisis.

To read the entire Reuters article, click here