January 30, 2020 / 6:59 AM / a month ago

Deutsche Bank CEO: Negative rates not an option generally for private customers

FILE PHOTO: Christian Sewing, Chief Executive Officer of Deutsche Bank, attends a session at the 50th World Economic Forum (WEF) annual meeting in Davos, Switzerland, January 23, 2020. REUTERS/Denis Balibouse

BERLIN (Reuters) - Deutsche Bank’s DBKGN.DE chief executive on Thursday told German broadcaster n-tv that he did not think Germany’s top bank would apply negative interest rates to the accounts of private customers in general.

European Central Bank rates have been negative for years.

Asked whether Deutsche would have to those pass negative rates on to customers, Christian Sewing said: “I think in the broad private customer business, it’s not an option in my opinion.”

Reporting by Michelle Martin; Editing by Joseph Nasr

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