Deutsche Bank says rates business to be profitable over time
FRANKFURT Oct 29 (Reuters) - Deutsche Bank co-Chief Executive Anshu Jain said he expected Germany's flagship lender to earn its cost of capital in the rates business as rivals pull back.
"We fully expected a number of the second-tier players to fall away. The return on equity over time will cover and indeed exceed the cost of equity in the rates business," Jain told analysts and investors on a quarterly conference call on Tuesday.
Jain said that the rates business will bear the brunt of the asset reduction programme currently underway at the investment bank. (Reporting by Edward Taylor and Arno Schuetze; Editing by Harro ten Wolde)
- Target holiday cyber breach hits 40 million payment cards
- Housing, jobs data weaken, but overall economic picture still upbeat
- UPDATE 3-Saab wins Brazil jet deal after NSA spying sours Boeing bid
- Zuckerberg to sell Facebook shares worth about $2.3 billion
- Special Report: Why Ukraine spurned the EU and embraced Russia