The bank confirmed to this publication when asked that wealth management is not affected by this decision.

Deutsche Bank’s plans to end an agreement to sell its Mexican assets to local bank Accendo Banco did not affect any of its wealth management business.

"We will continue to keep the best interests of our employees and clients in mind as we consider alternative options," Deutsche Bank said in a statement at the start of the week. Reuters quoted Accendo as saying it did not agree with the plan to suspend the deal and that it was still analysing it.

Accendo announced the deal in late 2016 but was forced to put it on hold after a shareholder was arrested in the US on charges of laundering more than $100 million.

Mexico's banking regulator last year cleared the bank of wrongdoing in connection with the US charges, allowing the acquisition to go ahead.

This news service asked if the Mexico deal affected wealth management in any way, and the bank responded: [There is] “No impact on our wealth management business as we service our Latin America clients from New York, Miami, Geneva and Hamburg.”

 “Our main business in Mexico is our corporate trust business within our global transaction banking unit,” the spokesperson continued.

“We have notified Accendo Banco that we are exercising our right to terminate the purchase agreement. We will continue to keep the best interests of our employees and clients in mind as we consider alternative options. Our commitment to serving our clients in Mexico through our global hubs remains unchanged,” the spokesperson added.