It has been another good year for Deutsche Bank as it continues the transformation plan first laid out in July 2019 to substantially reduce risk-weighted assets; get out of businesses where the bank is not a leading player, notably equities trading; invest in technology and controls; and all while still cutting overall costs.
That has left it heavily dependent through the first two years of the pandemic on an investment bank focused on fixed income and currencies (FIC) trading and debt capital markets, though one that has somehow managed to grab a reasonable share of equity capital markets business and harbours ambitions to grow in M&A.
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