PhotoLONDON — Deutsche Bank said on Sunday that it planned to raise an additional $8.5 billion in capital, reorganize its retail business in Germany and combine its markets business into its corporate and investment bank in the latest reshaping under its chief executive, John Cryan. Deutsche Bank, Germany’s largest lender, said Friday that it was preparing to raise up to €8 billion in new capital, confirming the expectations of many investors that the bank would need to shore up its balance sheet. “This now offers Deutsche Bank the opportunity to create Germany’s biggest private and commercial bank, retaining a multibrand approach,” the bank said. It would cost 1.5 billion to 2 billion euros to reintegrate the business, Deutsche Bank said. Deutsche Bank also said it would combine its global markets business with its corporate and investment bank.

Source: New York Times March 05, 2017 18:29 UTC