In an open letter to employees, Cryan says that staff have to be more daring and entrepreneurial as the bank prepares for a digital future.

Detusche Bank is currently undergoing a painful restructuring exercise which will see 30,000 job losses and a streamlining of its technology platforms in a bid to strip out EUR3.8 billion of bottom line costs.

"But our work is not just about pursuing restructuring," writes Cryan. "We must also change how we work in the future."

He cites examples from his own daily routine, where a rigid hierarchical structure and cautious approach results in "too many people busy doing the same work as each other".

He encourages staff to become more self-reliant and trust their own judgement, "instead of waiting for an instruction from above."

"This mindset is also necessary if we want to see ourselves increasingly as a technology company," he goes on. "We should be more daring and think a bit more like entrepreneurs. This does not just apply to the Management Board. Entrepreneurial initiative arises wherever business is done. You are best placed to see what could be changed and what could be improved. Often it is the small steps that bring us farthest forward."

Later this week the bank will open a new data analytics lab in Dublin and next week will host a two-day technology conference in Las Vegas.

"Innovation is crucial," writes Hammond. "At the end of September, Kim Hammonds and Christian Sewing will officially open our new digital factory in Frankfurt-Sossenheim, where developers are already diligently at work. Facilities such as Sossenheim and Dublin exemplify the technological transformation of our bank.

"Before us lies an extended final sprint in an exacting year of restructuring work. This will demand a lot from all of us, especially as our normal business must always take priority. Keep asking your clients what we can do for them. Ask yourself where you - where we - can demonstrate entrepreneurial spirit."