March 27, 2019 / 7:07 PM / 3 months ago

Deutsche Bank considers further cost cuts after weak quarter one: Handelsblatt

FILE PHOTO: The logo of Deutsche Bank is seen in front of one of the bank's office buildings in Frankfurt, Germany, October 27, 2016. REUTERS/Kai Pfaffenbach/File Photo

FRANKFURT (Reuters) - Deutsche Bank is considering fresh cost cutting after a weak first three months of the year, German business daily Handelsblatt reported, citing people familiar with the matter.

“With regard to the developments in the first quarter the board is assessing whether cost cuts planned so far are sufficient,” the paper quoted one of the people as saying.

The bank, which is currently examining the potential for a merger with peer Commerzbank, saw weak business at its investment banking operations during January-March, most notably in the area of securities trading, the paper said.

Deutsche Bank declined to comment. It is due to publish its first-quarter results on April 26.

Reporting by Christoph Steitz and Tom Sims; Editing by Susan Fenton

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