Deutsche Bank can cope with Basel III outcome: CFO in paper

Reuters

BERLIN (Reuters) - Deutsche Bank <DBKGn.DE> is able to cope with the stricter capital rules on banks that were agreed this week, its finance chief told a German paper.

 

"We are well capitalized. There is no need to be alarmed," James von Moltke was quoted as saying by Sueddeutsche Zeitung in an advance copy of an interview to be published on Monday.

 

Financial regulators reached a long-sought deal on Thursday to harmonize global banking rules, known as Basel III, capping a decade of effort to make banks more resilient.

 

Von Moltke joined Deutsche in July, at a time when it has managed to put 15 billion euros ($17.64 billion) worth of legal headaches behind it and bolstered its capital with an 8 billion euro rights issue.

 

He rejected the idea that Deutsche Bank was still involved in risky business. "We are not taking gambles," he was quoted as saying.

He added that he expected further mergers in the sector.

"There will probably be further mergers in the banking industry in the coming years. But each deal must make sense in terms of the business model, so that everyone - shareholders, employees and customers - can benefit."

(In this version of the story the paper corrects publication date of interview to Monday)

(Reporting by Victoria Bryan, editing by David Evans)

 
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