"We need to once again speak about growth, but also about measures to raise efficiency, after all we have been tasked by the supervisory board with raising the value of our bank in the long run," Jain told the paper.

Jain did not specify whether this would translate into job cuts.

"Information technology is an area which looks promising in terms of potential efficiency gains. We are already addressing this in the course of the Postbank integration. But also by establishing the asset and wealth management division," Fitschen said.

Following the failed sale of Deutsche Bank's asset management division, Deutsche Bank is folding together the asset and wealth management divisions.

(Reporting By Edward Taylor; Editing by Hans-Juergen Peters)

• A Permanent Economic Emergency