Deutsche Bank CFO dismisses aggressive rival deposit rates
Chief Financial Officer Raja Akram stated that the German lender will not match the promotional deposit rates offered by competitors like JPMorgan. He expressed confidence in the bank's relationship-driven model as US firms expand their digital retail presence in Germany.
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DEUTSCHE BANK AG-REGISTERED will not match aggressive deposit rates offered by rivals entering Germany, CFO Raja Akram said Wednesday. This refusal to engage in a price war follows JPMORGAN CHASE & CO launching its Chase digital bank with a 4% promotional interest rate. The decision tests whether relationship-based banking can defend market share against high-yield digital entrants in Europe's largest economy.
