Pursuits
Deutsche Bank to Cut Lending to German Home Buyers in Overhaul
- German consumer unit revenue lagging behind group this year
- Increasing competition and low interest rates hurting banks
Is Deutsche Bank Moving in the Right Direction?
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Deutsche Bank AG is turning its back on many German home-buyers in its push to bolster returns and capital levels.
“We intend to de-emphasize mortgages as the bank is currently subsidizing them at today’s price points,” co-Chief Executive Officer John Cryan told analysts in London on Thursday. The bank will show less reticence to offer “high value mortgages” to wealthier clients, he said.