Deutsche Bank is all set to acquire stake in Sal Oppenheim, the Luxembourg-based private bank, to bolster its wealth management business with European clients, mainly in Germany – reported The Financial Times. Deutsche Bank has emerged as a favourite to acquire the assets after Italy-based Mediobanca pulled out of talks.
Reportedly, Deutsche Bank made a net income of E1.4 billion in the third quarter, bolstered by tax credits and improved its Tier 1 capital ratio that is expected to give it more scope to finance the Sal Oppenheim deal.
However, analysts say structuring the deal is going to be complicated because of the fact that Deutshce bank is not interested to buy the investment banking operations of Sal Oppenheim, which has been in discussions parallelly with other banks such as Australia-based Macquarie over the sale of this operations, reported the newspaper.
