Deutsche Bank is looking at raising $8.5 billion (DB)

pulse

March 3, 2017 9:01 PM

Deutsche Bank is looking at "conducting preparatory steps" for a potential $8.5 billion capital raise.

Deutsche Bank Chief Executive Cryan attends a news conference in Frankfurt

Here's the statement from the bank:

"Deutsche Bank confirms that it is conducting preparatory steps for a potential capital raise of approximately EUR 8 billion and several potential strategic measures. These include retaining Postbank and integrating it with the Bank’s existing German retail and commercial business and a sale of a minority stake in Deutsche Asset Management via an initial public offering. Implementation is subject to market conditions and approval by the Management Board and the Supervisory Board. At this stage, no decision to proceed has been made."

Earlier Friday, Bloomberg reported that Deutsche Bank was planning to raise more than $10 billion through a capital raise and partial sale of its asset management business.

Deutsche Bank's capital position has long been a topic of discussion on Wall Street, and questions about capital have dominated recent earnings calls. I

"We still need to manage two items in parallel, which is the capital buildup until the end of 2018 where we need to be or want to be at least at 12.5%, and we're committed to that and do everything that is necessary. But at the same time, we also want 2017 to be a year where from a profitability point of view we see an improvement."

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