BERLIN (Reuters) - Deutsche Bank (DBKGn.DE) sees keeping hold of Postbank as more attractive now than it was two years due to changing market conditions, its chief executive told staff in a message after the bank announced plans for a rights issue and a revamp.
Germany’s top lender earlier on Sunday scrapped plans to sell its Postbank unit, among other measures, and said it wants to reintegrate the unit into its other German retail business.
“We’re aware that some observers are currently skeptical about a combination of Postbank and Deutsche Bank – especially as it represents another change of course in our domestic private client business,” John Cryan said in the note.
“However, market conditions and the regulatory environment are more favorable now. That makes retaining Postbank more attractive than might have been expected two years ago,” he added.
Reporting by Victoria Bryan; Editing by Susan Fenton