Strong franchise in securities business, investment banking, and transaction banking. Sound current funding and liquidity position. Strategic shift towards activities with lower capital market-sensitivity, notably retail and transaction banking. Majority of revenues are vulnerable to trends in capital markets. Significant legacy exposures to credit market assets. Exposure to global corporate credit risk. Weak performing asset-management business. Standard&Poor's Ratings Services' rating on Deutsche Bank AG (A+/Stable/A-1) is supported by Deutsche Bank's strong market position in its capital markets businesses, good performance in global transactions, and the bank's stable management team and consistent strategy. The importance of retail and wealth management businesses is likely to increase following the group's purchase of a 25% stake in Deutsche Postbank AG (A-/Positive/A-2), which
