One of the leading domestic asset managers, benefitting from integration into the German savings bank sector. Expected extraordinary group support from the German savings banks association if needed. Adequate capital and liquidity positions compared with other German commercial banks. Substandard performance in mutual funds segments compared with other domestic asset managers. Earnings volatility due to fairly concentrated commercial business and credit spread risks. Reliance on wholesale funding in difficult market conditions. Standard&Poor's Ratings Services' outlook on Germany-based DekaBank Deutsche Girozentrale (DekaBank) is stable. We do not expect any substantial changes in DekaBank's stand-alone credit profile (SACP) or its strategic importance for the German savings banking sector over a 24-month horizon. We expect that DekaBank will maintain adequate capitalization
