FRANKFURT (dpa-AFX) – According to CEO Christian Sewing, the problems at the Deutsche Bank subsidiary (Deutsche Bank) Postbank will drag on for a few more weeks. When converting the IT systems, there are “three to four critical applications,” said the manager on Wednesday at a “Handelsblatt” conference in Frankfurt. The bank will also need the fourth quarter to catch up on all the backlogs.
At the same time, Sewing emphasized: “I have seen a significant improvement in the situation for four weeks.” The bank is “now on the right track”.
Customer complaints had increased at Postbank, especially in connection with an IT change. There were also problems with seizure protection accounts and the disbursement of loans. The financial regulator Bafin had publicly reprimanded the institute and quickly demanded remedial action.
“There is nothing to sugarcoat the situation. Overall, this is a situation for which we can only apologize,” said Sewing. “The situation is anything but good, anything but nice. However, I believe that we will get this situation under control very, very quickly.” He expects that the bank will have returned to normal operations with the seizure protection accounts in the course of October, and he sees a similar trend with loan disbursements.
“We made a mistake,” admitted Sewing. He did not estimate how much the problems would likely cost the institute. “This point is not about costs,” emphasized Sewing: “We have to use everything we have to ensure that we satisfy customers again.”/stw/ben/DP/stw
Selected leverage products on Deutsche Bank AG
With knock-outs, speculative investors can participate disproportionately in price movements. Simply select the leverage you want and we will show you suitable open-end products on Deutsche Bank AG
The leverage must be between 2 and 20