Deutsche Bank says is well placed to lead European consolidation

FRANKFURT Wed Jan 29, 2014 4:10am EST

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FRANKFURT Jan 29 (Reuters) - Deutsche Bank said it was well positioned to lead consolidation in the European banking sector from 2015 onward, and that it would meet its ambitious restructuring targets set for that same year.

Seeking to reassure investors that its painful revamp was on track, Germany's flagship lender affirmed on Wednesday that it would cut back its balance sheet and reduce costs while improving returns and the performance of its core business.

Deutsche Bank shocked investors last week by revealing a worse-than-expected loss in the fourth quarter. (Reporting by Arno Schuetze and Tom Atkins; editing by Edward Taylor)