Three months of net outflows, the first such period since 2013, meant that Deutsche Bank's asset and wealth management division gave little respite to its beleaguered parent in the last quarter of 2015, but group co-chief executive John Cryan was keen to talk up the unit's performance last year.

The bank's executives, who on January 28 presented a set of results that culminated in a €6.8 billion full-year net group loss thanks to legal provisions, restructuring costs and lower corporate banking and securities revenues in the fourth quarter, were upbeat about the bank's €1.1 trillion asset and wealth management division.