Strong franchise in global corporate banking and securities business; Strong improvements in group profitability; and Improvements in credit and market risk profile through derisking. Less business diversification into retail and private banking compared with some other global universal banks; Low revenue momentum in asset management and retail banking; and Need for repositioning in some areas of asset management. The ratings on Deutsche Bank AG are based on the group's strong global franchise in the corporate banking and securities business, a track record of strong earnings improvements coupled with a derisking strategy, and sound risk management and liquidity. This is partly offset by its lower business diversification into retail and private banking compared with some other global universal banks, placing Deutsche
