Dec. 16 (Bloomberg) -- Deutsche Bank AG’s non-core asset management businesses may be worth 1 billion euros ($1.3 billion) to 2 billion euros in a sale, Morgan Stanley analysts said in a note to investors today.
A sale would make “strategic sense” and boost capital levels by 10 to 40 basis points, analysts Hubert Lam and Huw Van Steenis said. Still, Deutsche Bank’s new co-chief executive officers “may wish to accelerate to a higher capital level through stronger de-leveraging, asset sales, or capital raise,” the Morgan Stanley analysts said.
The German lender last month said it is considering all strategic options for its global asset management division, excluding operations of the DWS mutual fund unit in Germany, Europe and Asia.
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