"The capital increase will reinforce our financial strength substantially", John Cryan, Chief Executive Officer (CEO) of Deutsche Bank since June 2015, said in the press release.
Earlier Friday, Bloomberg reported that Deutsche Bank was planning to raise more than $10 billion through a capital raise and partial sale of its asset management business.
Jeffrey Urwin, now head of corporate and investment banking which helps clients with acquisitions, raising debt and equity, is stepping down from his post, while the bank will at a later stage name a successor to CFO Schenck. The lender is targeting a drop in its adjusted cost base from €24.1 billion past year to around €21 billion by 2021.
Additionally, it said it will retain Postbank, which had been slated to be sold off, with Deutsche's private and commercial clients and list its asset management "in order to unlock growth potential in the business".
In an interview seven weeks ago with CNBC, Cryan said that hiking capital was not the best option to improve its financial situation.
The share sale would "remove a major source of uncertainty".
Jeff Urwin, who led the investment banking division, will retire from the management board after a transition period, the bank said.
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The Wall Street Journal also reports that a recombination of the bank's investment banking and trading divisions is being weighed up.
Marcus Schenck, CFO at the bank, later said that it would do "everything that is necessary" to hit a 12.5% Core Tier 1 ratio by 2018.
Losses and mounting legal bills raised doubts about Deutsche Bank's financial strength, which intensified after the United States justice department in September demanded $14 billion (€13.2 billion) to end an inquiry into mortgage securities that fuelled the 2008 financial crisis.
The combined business would have more than 20 million customers with planned savings of $23 billion by 2018.
The issue is being underwritten by a number of other banks, including Credit Suisse, Barclays, Goldman Sachs, BNP Paribas, Commerzbank, HSBC, Morgan Stanley, and UniCredit, while Deutsche Bank itself is acting as global coordinator and joint bookrunner.
This follows a torrid 18 month period for the German bank, during which it has faced a litany of litigation battles with US and European authorities, thousands of layoffs, deep cuts to its compensation pool and several management reshuffles.