May 26, 2009

Deutsche Bank AG Chief Executive Officer Josef Ackermann said he’s confident about future earnings because the bank has the correct strategy of combining investment and consumer banking.“The right strategy and our solid financial position are two reasons for our confidence in the future,” Ackermann said in a speech at the annual general meeting in Frankfurt today. “We are confident that we will once again be able to present better revenue and profit figures to you in the future.”

Deutsche Bank, Germany’s biggest bank, returned to profit in the first quarter on a trading rebound after reporting its first annual loss in more than 50 years in 2008. Ackermann, who agreed last month to extend his contract by three years, said the “good results” of the first quarter continued in the second.Ackermann has been investing in the so-called stable businesses of consumer banking and asset management to reduce dependence on investment banking, which generated about half of the group’s earnings in 2007.