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Germany's biggest bank said on Friday it was preparing a capital
increase and was examining several strategic measures, including
an initial public offering of a minority stake in its asset
management business as well as retaining its Postbank unit and
integrating it into its other German retail business.
The meeting on Sunday is expected to take place around noon, the
sources said. Deutsche Bank declined to comment on the meeting.
The capital raising will allow Deutsche Bank to strengthen its
balance sheet and free up funds for strategic investments after
years of restructuring, a move welcomed by one investor on
Saturday.
"The announced measures are an important signal for the capital
market that the bank is now focussing more on its future and its
customers after years of dealing with the past," fund manager
Ingo Speich at Union Investment said in an emailed statement.
"That's to be welcomed, but investors still need more details."
The move comes after Deutsche Bank posted a net loss of 1.9
billion euros in the final quarter of 2016 as legal costs for
past misdeeds weighed heavily on results and the bank fell
further behind its Wall Street rivals, lagging their strong
rebound in bond trading.
"In comparison to rivals, Deutsche Bank is poorly capitalised.
The legal disputes have cost lots of money and trust," Speich
added.
(Reporting by Kathrin Jones and Alexander Huebner; Writing by
Victoria Bryan; Editing by Alexander Smith)
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