Deutsche Bank said today it will close all operations in Malta.

The bank will also reduce its worldwide workforce by some 9,000 full-time jobs and about 6,000 external contractor positions by 2020.

The bank will withdraw from Argentina, Chile, Mexico, Uruguay, Peru, Denmark, Finland, Norway and New Zealand.

New chief executive John Cryan told a press conference in Frankfurth that Germany continued to be the bank's most important market.

Deutsche Bank wants to focus on the markets, products, and clients where it is positioned to succeed. Because of that, the bank will halve the amount of clients it has in its global markets and investment banking business.

Earlier, the bank reported a net loss of €6 billion.

In a press release, Mr Cryan described the loss as ‘highly disappointing’.

 

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