Deutsche Bank overhaul targets $3.8B savings

April 27, 2015 6:36 AM

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Deutsche Bank overhaul targets $3.8B savings

The German lender said it was targeting savings of 3.5 billion euros ($3.8 billion) annually, but that this would cost a one-off 3.7 billion euros to achieve.

In the much-anticipated statement, the bank outlined plans to deleverage its corporate banking and securities division, cutting 200 billion euros in investment banking assets.

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