In September 2012, we announced Strategy 2015+. Five levers are key to Deutsche Bank in order to achieve this vision: Clients, Competencies, Capital, Cost and Culture.
Firstly, for Clients, Deutsche Bank is focusing on a dedicated portfolio of clients and regions, and a strategic emphasis is placed on growth in our home market Germany, in the U.S., and in Asia Pacific.
For Competencies we believe that our four core business pillars are well placed to balance our earnings mix and to satisfy increasingly complex and global customer needs. Closer collaboration between the individual corporate divisions and the infrastructure functions is expected to generate substantial synergies.
In respect of Capital, Deutsche Bank is committed to further strengthen its capital ratios. We have identified a series of measures to promote organic capital growth and further reduce risk-weighted assets (RWAs) including the creation of a dedicated Non-Core Operations Unit (NCOU) which is accountable and empowered to manage and sell non-core assets in the most efficient manner for the bank.
For Cost, we aim to secure our long-term competitiveness by achieving operational excellence with major reductions in costs, duplication, and complexity in the years ahead.
Additionally, Deutsche Bank recognizes the need for cultural change in the banking sector and aspires to be at the forefront of this change. Compensation practices are under review, and client focus and teamwork are being emphasized to complement our performance culture, entrepreneurial spirit and cultural diversity.