Deutsche Bank said to plan more cost cutting

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But using new technologies and introducing better internal processes instead of slashing more jobs!

Deutsche Bank is planning more cost cuts of up to $3.4bn as it tries to boost its competitiveness, German newspaper Handelsblatt reported.

Reuters reports that the bank plans to slash costs by $8bn to $9.4bn until 2018, the paper reported in a pre-release of its Friday edition, citing financial sources.

'We have a programme targeting cost cuts of 4.5bn euros ($6.05bn) by 2015', a Deutsche Banks spokesman said, declining to comment on the newspaper report.

Deutsche Bank will focus on using new technologies and introducing better internal processes instead of slashing more jobs, according to Handelsblatt.

To access the complete Reuters article hit the link below:

Deutsche Banks expands cost cutting programme -paper

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