...LONDON (Standard & Poor's) April 27, 2015--Standard & Poor's Ratings Services said today that its ratings on Deutsche Bank AG (A/Watch Neg/A-1) are not immediately affected following the bank's strategic review and first-quarter earnings announcements. As part of a new five-year strategic plan, Deutsche Bank announced that it would deconsolidate German retail banking subsidiary Deutsche Postbank AG, reduce the net leverage exposure of its investment bank division by about 130 billion-150 billion, and target an additional 3.5 billion of gross cost savings. The plan is intended to raise the regulatory leverage ratio to 5% or above, maintain the common equity Tier 1 ratio at about 11%, and strengthen returns. For the first quarter of 2015, Deutsche Bank reported only a small net profit of 0.6 billion because a 1.5 billion litigation charge, principally arising from the recent settlement of investigations into interest rate benchmarks, offset near-record revenues from buoyant investment banking...
