Deutsche Bank AG’s plan to cut costs by selling Postbank and shrinking the securities business is leaving investors cold as the overhaul pushes back targets that management has failed to deliver.
The stock fell the most in Frankfurt trading since October after Germany’s biggest bank lowered its profitability target under a new five-year plan announced Monday. The company didn’t provide details of how it will achieve additional annual cost savings of 3.5 billion euros ($3.8 billion) while it aims for a lower measure of financial strength than the current level.
