FRANKFURT - Deutsche Bank's supervisory board will meet on Sunday to discuss plans for a potential capital increase of around 8 billion euros ($8.5 billion), two sources familiar with the matter said.
Germany's biggest bank said on Friday it was preparing a capital increase and was examining several strategic measures, including an initial public offering of a minority stake in its asset management business as well as retaining its Postbank unit and integrating it into its other German retail business.
The meeting on Sunday is expected to take place around noon, the sources said. Deutsche Bank declined to comment on the meeting.
The capital raising will allow Deutsche Bank to strengthen its balance sheet and free up funds for strategic investments after years of restructuring, a move welcomed by one investor on Saturday.
"The announced measures are an important signal for the capital market that the bank is now focussing more on its future and its customers after years of dealing with the past," fund manager Ingo Speich at Union Investment said in an emailed statement.
"That's to be welcomed, but investors still need more details."
The move comes after Deutsche Bank posted a net loss of 1.9 billion euros in the final quarter of 2016 as legal costs for past misdeeds weighed heavily on results and the bank fell further behind its Wall Street rivals, lagging their strong rebound in bond trading.
"In comparison to rivals, Deutsche Bank is poorly capitalised. The legal disputes have cost lots of money and trust," Speich added. -Reuters
About 92 News HD Live Main TV Channel of Pakistan:
92 News (also known as 92 News HD Plus (Channel 92) is a conservative Urdu language TV channel based in Lahore, Pakistan.
Mian Muhammad Hanif is the chairman of the channel.
This TV channel is a subsidiary of Madinah Group under Galaxy Media Group.
The channel's name, 92, is to celebrate the 1992 Cricket World Cup won by Pakistan. The number 92 is also the telephone country calling code of Pakistan, which is another major reason behind the channel's name.
92 News HD is Pakistan’s first HD Plus News Channel. Aims to bring credible & responsible News & important stories from Pakistan & around the World
We bring you Latest Pakistani and International News at 92 News Hd Plus to Read and Watch
We believe in genuine and true journalism, we do not prevail sensation just for ratings.
We do not hide news but never tend to add any unethical content or angling that goes against the norms of our religion Islam and Pakistan's culture.
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