15:15 GMT +321 January 2020
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    Deutsche Bank plans to raise additional money by issuing new shares, statement on Sunday.

    MOSCOW (Sputnik) — Deutsche Bank plans to raise additional 8.5 billion in capital by issuing new shares, the Germany’s biggest lender said in a statement on Sunday.

    "Deutsche Bank intends to increase its capital from the issuance of new shares with subscription rights for existing shareholders with proceeds expected to be around EUR 8 billion," it said in a press release.

    Up to 687.5 million new shares will be issued to achieve a capital ratio of comfortably above 13 percent, the bank said. It hopes the move will boost its position on the German home market and in Europe.

    "Our decisions are a significant step forward on the path to creating a simpler, stronger and growing bank," Deusche Bank’s chief executive John Cryan said.

    The lender also plans to reduce its annual severance and restructuring costs from $25.6 billion to about $22.3 billion in 2021 when it plans to implement all measures of its restructuring plan.


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