Deustche Bank aims for top 5 status

In an interview with the Frankfurter Allgemeine Zeitung newspaper, Michael Cohrs, head of global banking operations, said: "We want to rank in among the five largest corporate finance investment banks."

The bank is currently ranked in seventh position by Dealogic

Mr Cohrs went on to explain that Deutsche Bank needed to increase its fee income by $134 million per year.

"This is an amount we can achieve by increasing our productivity and growing organically," he said.

Mr Cohrs went on to explain that Deustche Bank was also looking at the US for growth - noting higher margins and lower costs compared with Europe.