Banks' countries of origin have become important again and Deutsche Bank will continue its expansion in its home market, as well as in emerging markets and the U.S., Anshu Jain, head of the corporate and investment bank at Deutsche Bank, told CNBC in an interview.
Jain, who will take over as Deutsche Bank co-CEO in June, also said that Europe has made some "tremendous progress" in dealing with its crisis in the past six months, citing the European Central Bank's two Long-Term Refinancing Operations (LTROs) and the increase in the size of the European Stability Mechanism (ESM), the euro zone's bailout fund.
"There was a time when global banks floated above their countries," he told " U.S. Closing Bell ."
"You didn't really look at nationality. At this point, I would say country of origin is more important than before," Jain added.
Rating agencies have downgraded banks' ratings in step with cuts in the ratings of their countries of origin. The Financial Times reported that big banks are bracing for another round of ratings cuts as the crisis continues.
Stocks and the euro came under pressure last week after news of sharp withdrawals of deposits from Greek banks but Jain said he wouldn't talk about "runs" on banks.Page 1 of 2 | Next Page