July 7, 2019 / 2:41 PM / 3 months ago

Deutsche Bank to quit equities, shrink investment bank in 7.4 bln euro overhaul

FRANKFURT, July 7 (Reuters) - Deutsche Bank said on Sunday it plans exit its global equities business and scale back its investment bank in a sweeping, 7.4 billion euro overhaul designed to turn around the struggling German flagship lender.

The bank expects a 2.8 billion euro ($3.1 billion) net loss in the second quarter as a result of restructuring charges. ($1 = 0.8909 euros) (Reporting by Tom Sims Editing by Keith Weir)

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