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World

Deutsche Bank offers more details on reorganization after profits fall due to fines

Associated Press
Published | Updated
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    The Euro sculpture stands near the headquarters of the Deutsche Bank in Frankfurt, Germany, Saturday, April 25, 2015. Deutsche Bank AG says it plans to "deconsolidate" its Postbank retail banking unit, in which it has held a majority since 2010. (AP Photo/Michael Probst) (The Associated Press)

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    A traffic sign stands near the headquarters of the Deutsche Bank in Frankfurt, Germany, Saturday, April 25, 2015. Deutsche Bank AG says it plans to "deconsolidate" its Postbank retail banking unit, in which it has held a majority since 2010. (AP Photo/Michael Probst) (The Associated Press)

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    Co-CEOs of Deutsche Bank Anshu Jain, right, and Juergen Fitschen stand together prior to a press conference about the further strategies of the bank in Frankfurt, Germany, Monday, April 27, 2015. (AP Photo/Michael Probst) (The Associated Press)

FRANKFURT, Germany – Deutsche Bank is giving more details of its reorganization, saying it will hold a share offering for its Postbank branches in Germany.

Frankfurt-based Deutsche Bank says it expects Postbank to be removed from its earnings statements by the end of next year.

The bank also said in a statement Monday that it intends to streamline the bank to make it easier to manage. It said it would drop business locations in some countries to focus on countries and cities where it is strongest.

It plans to reduce leverage, or the use of borrowed money, at its investment banking division by 200 billion euros ($220 billion). Leverage enhances profits but increases risks of loss as well.