German banks need tighter cost management: Bundesbank

April 21, 2015 1:30 PM

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German banks need tighter cost management: Bundesbank

FRANKFURT (Reuters) - Germany's banks ought to focus on improving cost management as they revise their branch networks to catch up with the profitability enjoyed by international rivals, Bundesbank board member Andreas Dombret told a German magazine.

"Many banks appear to be rethinking the size of their branch networks in light of digitalization and demographic changes," Dombret told Euro magazine in an interview released ahead of publication on Wednesday. "There must be no taboos," he added.

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