FILE - In this Oct. 11, 2016 file photo, water spills out of a small dragon sculpture on a fountain with the headquarters of the Deutsche Bank in background in Frankfurt, Germany, Deutsche Bank says it is planning a capital increase to raise 8 billion euros (US $8.45 billion). The German lender said in a statement Sunday March 5, 2017 that the capital increase will come through the issuance of up to 687.5 million new shares (AP Photo/Michael Probst,file)
The Associated Press
BERLIN (AP) - Deutsche Bank says it is planning a capital increase to raise 8 billion euros ($8.45 billion).
The German lender said in a statement Sunday that the capital increase will come through the issuance of up to 687.5 million new shares. Deutsche Bank also said it won't sell its Postbank subsidiary but merge it with its existing units "in the medium term."
Other measures include floating a minority stake in its Deutsche Asset Management business within the next two years, and creating an integrated corporate and investment bank.
The company also announced new financial targets to replace those published in October 2015.
It quoted chief executive John Cryan saying the decisions were "a significant step forward on the path to creating a simpler, stronger and growing bank."
FILE - In this Sept. 30, 2016 file photo, the bank's logos are pictured at the headquarters of Deutsche Bank in Frankfurt, Germany. Deutsche Bank says it is planning a capital increase to raise 8 billion euros (US $8.45 billion). The German lender said in a statement Sunday March 5, 2017 that the capital increase will come through the issuance of up to 687.5 million new shares (AP Photo/Michael Probst,file)
The Associated Press