Deutsche Bank to Raise $8.5 Billion and Reorganize Some Operations
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Deutsche Bank’s chief executive, John Cryan, said new capital and a reorganization would create “a simpler, stronger and growing bank.” CreditKai Pfaffenbach/Reuters
LONDON — Deutsche Bank said on Sunday that it planned to raise an additional $8.5 billion in capital, reorganize its retail business in Germany and combine its markets business with its corporate and investment bank in the latest reshaping under its chief executive, John Cryan.
The latest capital raising — the company’s third in four years — came after the bank disclosed a loss of 1.9 billion euros, or about $2 billion, in the fourth quarter after a multibillion-dollar settlement with the United States Justice Department over the bank’s sale of toxic mortgage securities…
Deutsche Bank to Raise $8.5 Billion and Reorganize Some Operations
