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Deutsche Bank to Pass on Negative Rates to Major Customers: FAS

Christoph Rauwald

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Deutsche Bank AG will pass on negative interest rates only to larger corporate customers or the deposits of wealthy individuals and spare most retail clients, Deputy Chief Executive Officer Karl von Rohr said in an interview with Frankfurter Allgemeine Sonntagszeitung.

The bank is talking to the customers affected and they understand the issues, von Rohr said in a preview of the interview, which is set to be published on Sunday.

German banks have already paid several billion euros in penalty rates for their deposits with the European Central Bank and Deutsche Bank’s payments amount to “several hundred million euros for 2019,” von Rohr said.

To contact the reporter on this story: Christoph Rauwald in Frankfurt at crauwald@bloomberg.net

To contact the editors responsible for this story: Anthony Palazzo at apalazzo@bloomberg.net, James Amott, Matthew G. Miller

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