Deutsche Bank has made 'positive early progress' in its massive multi-year restructuring program, according to S&P Global Ratings.
In a note published Monday, the independent credit ratings agency retained a "stable" outlook for the embattled German lender, affirming its long and short-term issuer credit ratings at 'BBB+/A-2'.
Deutsche Bank announced in July that it would pull out of its global equities sales and trading operations, scale back the investment banking division, andManagement wants the changes to trim 20% of the 2019 adjusted cost base by as soon as 2022.last week, anticipating a marked rise in profitability and improved cost efficiency through to 2022. He said this was based on measures across private, corporate and investment banking.
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