Though he has only been on the job for a few months, CEO John Cryan has had to make some tough choices

Deutsche Bank is not yet ready to make any drastic decisions and any deal is very unlikely to happen sooner than the first half of 2017, Financial Times reported.

The asset management arm is assessed to be worth €8bn.

Deutsche Bank is embroiled in a legal conflict with the US Department of Justice for being accused of selling toxic residential mortgage-backed securities before the financial crisis. The leading German bank is facing a $14bn fine arising assumptions that company might desperately need a government bailout.

Deutsche Bank has stated they are reluctant to pay the fine. Last month, CEO John Cryan excluded the option of the asset management business sale.

Deutsche Bank shares have reached a 20-year low as Angela Merkel rejected state aid for the ailing bank

A public listing of a minority stake in the asset management arm would allow the firm hold management control while raising capital that would diminish the size of a potential rights issue.

However, the profit the bank can receive from its most effective unit will be also diminished.

Deutsche Bank shares have dropped by 45% this year, however, they have soared 12% this week, after the International Monetary Fund announcing that the firm is too significant to be allowed to fail.

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