Deutsche Bank Sees Declining Margins at Retail Unit, Welt Says

By Aaron Kirchfeld

Dec. 14 (Bloomberg) -- Deutsche Bank AG expects profit margins per customer to fall at its retail banking unit as private banking clients invest less, Welt am Sonntag said, citing an interview with consumer banking head Rainer Neske.

Deutsche Bank aims to offset lower margins by attracting new customers, Neske told the newspaper. It attracted 650,000 net new clients in the past 10 months and more than 9 billion euros ($12 billion) in new deposits this year, the newspaper said, citing Neske.

Deutsche bank has no plans to speed up the complete takeover of Deutsche Postbank AG and doesn’t plan acquisitions in private banking, Neske told the newspaper.

To contact the reporter on this story: Aaron Kirchfeld in Frankfurt at akirchfeld@bloomberg.net.