Up to 20,000 jobs could be axed at Deutsche Bank in a radical reorganisation of Germany’s biggest bank.
Bulgaria Air starts operating 10 new regular passenger flights to some of the most attractive cities in Europe and…
24 Views | the publication reaches you by | Bulgarian Business ClubThe supervisory board of Deutsche Bank is expected to approve the plan on Sunday.
The German government had supported the tie-up, hoping it would create a national champion in the banking industry.
However, both banks concluded that the deal was too risky, fearing the costs of combining might have outweighed the benefits.
Chief executive Christian Sewing, who took on the top job just over a year ago, told shareholders at the annual general meeting in May that he would “accelerate transformation” by focusing the bank on “profitable and growing” businesses.
“I can assure you: we’re prepared to make tough cutbacks,” he said.
The Bulgarian economy shrunk by 4.6 percent last year, and in 2021 the country expects a recovery and…
29 Views | the publication reaches you by | Bulgarian Business Club
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