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  "documentTitle": "DB June2018 v8 cb enn ligne",
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      "text": "Income before income taxes (IBIT): € 3 bn",
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      "text": "PBC is expected to continue on its growth path towards its ambitious objective of generating, income before income taxes of about € 3 billion and revenues of about € 10 billion and to achieve a cost-income ratio target of approximately 60 % once full benefits from Postbank integration are achieved.",
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      "text": "In Private & Commercial Banking, our aim is to strengthen our market position by leveraging our new business model and realize benefits from our business banking and mid-cap coverage.",
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      "text": "Cost-to-achieve (CtA) in 2014 are expected to remain at a similar level as in 2013 as the Postbank integration program and OpEx program remain in focus.",
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      "text": "PBC may continue to face uncertainties in its operating environment. For example, a significant decline in economic growth would result in higher unemployment rates and could lead to increasing credit loss provisions.",
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      "text": "GDP outlook for all the European countries in which PBC is present (including our home market Germany) has significantly improved. All countries are expected to deliver a positive GDP growth. The economy in Asia is expected to show stronger growth in 2014 compared to 2013.",
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      "text": "Postbank will pursue its growth path in Germany while further aligning its business and reducing costs via the implementation of organizational measures.",
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      "text": "In Advisory Banking International we are capitalizing on our advisory strength in Europe and intend to further develop PBC's profitable franchise with a focus on wealthy regions to be among Europe's leading retail banks.",
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      "text": "Revenues: To grow to approximately € 10 bn; Cost/income ratio: Approximately 60 %; Income before income taxes (IBIT): To grow to approximately € 3 bn",
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