Deutsche Bank won clients during crisis - report

FRANKFURT (Reuters) - Germany's largest bank, Deutsche Bank increased the number of its affluent clients during the financial crisis and saw its client base grow faster than the market, German media reported.

"We gained customers and assets under management in the fourth quarter of 2008 and in 2009," The head of the Deutsche Bank's private banking operations Ulrich Stephan told German weekly Euro am Sonntag.

He said the growth could be traced back to the fact that the bank did not take state funds or backing as did several other German lending institutions.

Stephan said that over the first three quarters of 2009, client numbers rose by about 10 percent year-on-year.

Pierre de Weck, Deutsche Bank's head of wealth management reiterated growth targets for his segment when speaking with German weekly Wirtschaftswoche.

"10 percent growth is an ambitious goal in a market that is growing by about 5 percent per year, but i still consider this realistic," De Weck told the newspaper for an article which appeared at the weekend.

De Weck also said that the bank does not plan to do away with the Sal. Oppenheim brand name after it integrates it.