Deutsche Bank is planning to cut 1,100 back-office jobs whilst
at the same time expanding its branch network in Germany, Italy and
Poland.
The bank is seeking to reduce its investment banking operation
in the face of the credit crunch and instead generate greater
profits from retail banking.
The bank plans to open 400 branches and create 2,500 advisory
positions in Germany, Italy and Poland by 2012.
Deutsche Bank expects the number of its retail banking clients
to rise to 18 million from the current 14.1 million by 2012.
"With this programme, we are creating the basis for sustainable
and profitable growth," said Rainer Neske, head of Deutsche Bank's
retail banking business.
