FRANKFURT (Reuters) -Deutsche Bank needs to ensure that a bigger share of its profits comes from stable business areas, rather than the volatile investment bank, a top shareholder said on Wednesday.
Andreas Thomae of Deka Investment said Germany’s largest lender should lift profits from its asset management, retail and corporate client divisions.
“It is still investment banking, which is susceptible to fluctuations and entails higher risks, that accounts for the lion’s share of profits. You have a lot of catching up to do, particularly in the retail business,” Thomae said.
The remarks are due to be delivered at Deutsche Bank’s annual shareholder meeting on Thursday but were published in advance on Wednesday.
As part of an overhaul in 2019, Deutsche Bank set out to rely less on revenue from the investment bank, but the results of that aim have been mixed.
(Reporting by Tom SimsEditing by Ludwig Burger)
