July 27, 2016 / 8:17 AM / 3 years ago

Deutsche Bank expects to benefit from Brexit

Deutsche Bank CEO John Cryan addresses the bank's annual general meeting in Frankfurt, Germany, May 19, 2016. REUTERS/Kai Pfaffenbach

FRANKFURT (Reuters) - Deutsche Bank (DBKGn.DE) expects to benefit from Britain’s vote to leave the European Union, Chief Executive John Cryan said on Wednesday.

“We end up, slightly bizarrely, by having something of a competitive advantage (from Brexit),” he said on Wednesday.

Deutsche Bank’s reaction will depend on client demand, he said.

“We wouldn’t intend to do anything ourselves other than we have to respond to our client requirements,” Cryan said, adding that the bank was reticent to make any long-term commitments about the UK.

“If euro-zone clients increasingly want us to be facing them from locations within euro zone countries then we are reasonably well positioned.”

Reporting by Arno Schuetze; Editing by Maria Sheahan

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