This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at http://www.bbc.co.uk/news/business-39172229

The article has changed 4 times. There is an RSS feed of changes available.

Version 0 Version 1
Deutsche Bank to raise billions with rights issue Deutsche Bank to raise billions with rights issue
(about 7 hours later)
Deutsche Bank plans to raise about 8bn euros (£6.9bn, $8.5bn) by issuing new shares.Deutsche Bank plans to raise about 8bn euros (£6.9bn, $8.5bn) by issuing new shares.
The share sale by the troubled German bank is part of a wider shake-up.The share sale by the troubled German bank is part of a wider shake-up.
The bank will partially float its asset management business and retain Postbank - the retail banking business it had been expected to sell.The bank will partially float its asset management business and retain Postbank - the retail banking business it had been expected to sell.
Deutsche will be reorganised around three divisions: private banking and wealth management; asset management; and corporate and investment banking.Deutsche will be reorganised around three divisions: private banking and wealth management; asset management; and corporate and investment banking.
Germany's biggest bank is trying to reshape itself after grappling with huge losses and a 15bn euro legal bill imposed by regulators since 2012.Germany's biggest bank is trying to reshape itself after grappling with huge losses and a 15bn euro legal bill imposed by regulators since 2012.
In December, Deutsche Bank said it had agreed a $7.2bn (£5.9bn) payment to US authorities to settle an investigation into mortgage-backed securities.In December, Deutsche Bank said it had agreed a $7.2bn (£5.9bn) payment to US authorities to settle an investigation into mortgage-backed securities.
PromotionsPromotions
The sale of residential mortgage-backed securities played a significant role in triggering the 2008 financial crisis.The sale of residential mortgage-backed securities played a significant role in triggering the 2008 financial crisis.
The rights issue will be launched on 20 March in a bid to repair its balance sheet.The rights issue will be launched on 20 March in a bid to repair its balance sheet.
Peter Hahn at the London Institute of Banking and Finance said it was the first capital raising from Deutsche since it had drawn a line under many of its legacy issues.
"The atmosphere for banks has got much more positive in the last several months," Mr Hahn told the BBC. Deutsche Bank shares have risen 44% in the last six months, for example.
But there were still question marks over whether its investors would "put money in one more time", he said.
Deutsche will also promote chief finance officer Marcus Schenck and retail banking boss Christian Sewing to become co-deputy chief executives under chief executive John Cryan.Deutsche will also promote chief finance officer Marcus Schenck and retail banking boss Christian Sewing to become co-deputy chief executives under chief executive John Cryan.
Mr Schenck will also become co-head of the investment bank alongside Garth Ritchie, who runs the bank's bond and equities trading activities.Mr Schenck will also become co-head of the investment bank alongside Garth Ritchie, who runs the bank's bond and equities trading activities.
Jeffrey Urwin, head of corporate and investment banking, will step down, and a new chief finance officer will be sought.Jeffrey Urwin, head of corporate and investment banking, will step down, and a new chief finance officer will be sought.
Deutsche aims to cut costs from 24.1bn euros to 22bn euros by 2018, as well as resume paying a "competitive dividend" to shareholders.Deutsche aims to cut costs from 24.1bn euros to 22bn euros by 2018, as well as resume paying a "competitive dividend" to shareholders.