Deutsche Bank is to sell its stake in the Chinese lender Hua Xia for up to €3.7bn ($4 billion) as Germany’s biggest bank steps up efforts to strengthen its balance sheet under John Cryan.
Regulators around the world have been pushing global banks like Deutsche to hold more capital to avoid a repeat of the 2008 financial crisis. The German bank historically operated with higher debt levels than most rivals.
Mr Cryan, who succeeded Anshu Jain as co-chief executive of Deutsche in July, has made bolstering the bank’s capital position a vital part of his five-year turnaround plan. He has already said that Deutsche, which is on course to make a big loss this year, will pay no dividends for 2015 or 2016.
