believe we can build up our capital organically, which we
unfortunately didn't do over many years," John Cryan was quoted
as saying on Saturday.
Germany's largest bank has to generate on average up to 2.5
billion euros ($2.8 billion) in additional capital to meet
regulatory requirements and Cryan said there would be no problem
Deutsche Bank said in its first quarter results it is targeting
a stable core tier 1 ratio of 11.1 percent at the end of this
year, while it has until the end of 2019 to reach the required
Shares in Deutsche Bank were hit by Britain's June 23 vote to
leave the European Union, but Cryan said Deutsche Bank was in a
better position than U.S. rivals, which may now need to set up
new subsidiaries outside of Britain in order to be able to
operate in the EU in future.
"For Deutsche Bank, little will change," Cryan said.
Cryan also criticized the European Central Bank for its low
interest rate policy, which he said was having the opposite
effect to its intended growth stimulus.
"If banks make losses on their deposits, then they have to
compensate with higher interest rates for company loans where
possible," he said.
He also added Deutsche Bank was not planning to sell its wealth
($1 = 0.8978 euros)
(Reporting by Alexander Huebner; Writing by Victoria Bryan;
Editing by Alexander Smith)
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