Deutsche Bank AG Firm, May Scale Back U.S. Operations

Deutsche Bank AG (DB) is firmer after Reuters said the company is considering a possible change of its strategy in the United States, where it is fighting a $14 billion fine the Department of Justice (DoJ) is requiring over the sale of toxic mortgage bonds before the financial crisis, two sources close to the company said on Saturday.

The sources reportedly said the bank would likely not abandon the U.S. market; instead, it may scale back its operations there to focus more on the needs of German corporate clients overseas.

German newspaper Welt am Sonntag in an abstract of a story due to be published on Sunday said earlier a change of business strategy might be part of a settlement with the DoJ, in addition to paying the fine, possibly by giving up its investment banking in the United States, but the two sources did not confirm this connection, Reuters said.

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