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Deutsche Bank board to discuss capital hike on Sunday

07 March, 2017, 00:13 | Author: Paula Vaughn
  • Deutsche Bank board to meet Sunday to discuss capital hike

Deutsche Bank shares fell over six per cent in early trading this morning after yesterday confirming plans to launch a €8bn (£6.9bn) rights issue and reports it is facing new legal action over FX trading practices.

Deutsche Bank also said it won't sell its Postbank subsidiary but merge it with its existing units "in the medium term". Postbank, Deutsche Bank's worldwide Private & Commercial Clients business and the global Wealth Management business will be part of this division.

"On strategy, it's obvious we had a change of heart", Chief Executive John Cryan said on a call with journalists on Sunday afternoon.

"We are very positive over prospects of banking in Germany", Cryan said.

Deutsche Bank is in crisis mode and its collapse could signal the beginning of a whole new set of economic woes for Germany, the European Union and even the entire global financial system, expert Michael Schröder told EURACTIV Germany.

Notre Dame's Bonzie Colson named first-team All-ACC
Beachem (82 3-pointers, 15.4 points) and Steve Vasturia (13.5 points, 3.3 assists) were named honorable mention . His minutes have dwindled since, but his effort Saturday against the high-flying Cardinals was paramount.

Shares (Berlin: DI6.BE - news) in the bank plunged at several points throughout the year, including when news of the DoJ's demand became public in September and when several hedge funds later withdrew investments. The company has a market cap of $26,682 million and there are 1,378,900,000 shares in outstanding. Gadfly has argued before that a capital hike is the least worst option for Cryan as investor concerns shift from Deutsche Bank's existential future to its ability to grow market share and turn a profit.

The company confirms in an official announcement that it will combine its Corporate Finance, Global Markets & Global Transaction Banking businesses.

Pascal Boillat, who joined the corporate and investment bank in 2016 as CIO and head of operations operations, will take on a newly-created Group CIO role with immediate effect.

A Private & Commercial Bank that will be the clear market leader in Germany as measured by number of clients. Deutsche Bank investors have said in the past that they would prefer a partial sale of the asset management unit over a rights issue. Deutsche Bank AG has a 52 week low of €9.91 and a 52 week high of €19.95.

Deutsche Bank has practically multiplied in market an incentive since September 26, reflecting help over its US contract securities settlement and the brighter viewpoint for banks taking after Donald Trump's race. The news was not completely unexpected, given that the bank trails most of its global banking peers in terms of regulatory capital ratio requirements. Deutsche will retain a majority stake. He joined Deutsche Bank in mid-2015 and the management board just 14 months ago.

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