And already we can witness that in the Eurozone, some banks that until very recently were head-on competing with us have basically given up. They had to surrender. Some were merged. Some went under and dissolved. There is no end to this yet, and we believe that this in itself is also producing opportunities for us as long as we get our act together. That's what we are determined to do. We will move on to benefit from this development and turn out to be the winner in the category of banks that we like to compare ourselves with.

During the crisis, you have already seen that some have been acting, and by doing so, strengthened their relative market position. In our case, this happened particularly here in our home market. We are not yet at the end. We do believe that the time ahead of us is giving us unprecedented opportunities to even further our leadership position in our home market despite what you might read about competitiveness, difficulties to emerge as a winning team. We have every hope that we'll distance ourselves from our competitors to an extent Deutsche Bank has never seen in its history. We'll come up with more details next month when we produce our detailed plans for our coverage here in Germany.

As a result of that, we would also benefit, as the chart suggests, from a development that is giving the winners an ever-increasing market share. That's exactly what we associate with our ambitions to be one of: the winners, the leaders in our category. We do believe as we maintain this aspiration, this ambition, we are well advised to base all our actions around our clients. That is quite normal for what tries to be known as a client-centric institution. It's not that difficult. After all, we have stated and we restated time and again, that proprietary trading is no longer there to make a contribution to our bottom line.

Read the rest of this transcript for free on

If you liked this article you might like

Commerzbank Tops German DAX on Report of Merger Interest From Italy's UniCredit

Wall Street Looks Past Fed's $4.5 Trillion Balance Sheet for These Signals

All Eyes on the Godfather of Central Banking as Fed Has Huge Meeting This Week

Stock Observations; Reviewing Equities: Doug Kass' Views

Morgan Stanley Is Using Snapchat to Recruit College Students and Make Them Rich