Deutsche Bank: Adjusted cost reductions 'on track'
Deutsche Bank made progress in executing on strategic actions announced by the new management team in April: In the Private & Commercial Bank, the merger of Deutsche Bank's German Private & Commercial Business with Postbank was completed on schedule in May, creating a combined entity with 20 million clients and Germany's largest private and commercial bank. The reshaping of the Corporate & Investment Bank has made considerable progress: o Front-office workforce reductions are now well advanced. o Substantial deleveraging has been completed, with reductions in leverage exposure in specific areas such as Equities and US Rates. Adjusted cost reductions are on track, due to workforce reductions and progress in reducing non-compensation costs. Management is committed to reducing adjusted costs quarter by quarter in the second half of 2018.