Deutsche Bank boss John Cryan has told employees that the firm has no plans to sell its asset management business.

"Deutsche Asset Management is and will remain an essential part of our business model," Cryan said in the letter to staff, later published on the bank's website on Monday.

"Do not allow yourself to become distracted by speculation about alleged mergers or sales plans," Cryan said, adding. "We have enough on our plate to solve on our own, and we intend to concentrate on this for now."

His comments follow recent reports that the German lender’s management was considering a sale of the unit, which reported a 35% drop in pretax profit to €171m euros ($192m) in the second quarter from a year earlier.

Cryan, who took charge in July last year, has said that 2016 will be the peak restructuring year.

He is aiming to restore investor confidence in the bank as mounting legal costs and restructuring charges undermine earnings and capital.