|Bid||6.03 x 555100|
|Ask||6.03 x 230000|
|Day's Range||5.98 - 6.08|
|52 Week Range||5.80 - 11.28|
|Beta (3Y Monthly)||1.59|
|PE Ratio (TTM)||602.70|
|Earnings Date||Jul 24, 2019|
|Forward Dividend & Yield||0.11 (1.81%)|
|1y Target Est||N/A|
Unfortunately for investors, a 3% haircut in advisory fees and fund expenses—a level that’s all too common—makes a huge difference in how fast your wealth grows. If you add up all of the fees in your portfolio, it may reveal a “silent killer” that can devastate your account balances over your working career or a lengthy retirement. For example, let’s say your financial adviser or 401(k) plan provider charges an annual fee of 1% of assets under management.
with a bill, which will allow criminal suspects for the first time to be extradited to mainland China. Opponents of the legislation fear it will allow China to extradite political opponents or others from the city on potentially trumped up charges.
With Deutsche Bank’s share price languishing close to a record low after talks to merge with Commerzbank collapsed this spring, Germany’s biggest bank is going through one of the toughest moments in its 149-year history. There are now serious questions over whether Deutsche will need to raise billions of euros for a further restructuring and, if so, how it will raise the money, hemmed in by its shrunken market capitalisation and increasingly frustrated investors. to its ailing investment bank, after it slumped to a loss over the past six months.
Newly created oil and gas group Wintershall DEA plans to hold an initial public offering in the second half of the next year, its chief executive told Reuters, in a deal that could become one of the largest European listings in 2020. Sources said in April that Wintershall DEA had picked the banks to arrange its stock market flotation. Mario Mehren, the CEO of the company, confirmed the plans.
A lawyer for a Dutch housing firm said a Deutsche Bank AG executive “did nothing” about possible kickbacks to an official at the housing company, despite alarm bells that should have indicated “something suspicious” was going on. Rhodri Davies, a lawyer for Stichting Vestia, made the comments to Claus Telaar, the bank’s relationship manager for the housing firm, as he cross-examined him at a London trial last week. Telaar immediately rejected Davies’ remarks.
About 80 former and current employees of Deutsche Bank AG are suspects in an investigation by German prosecutors into an alleged tax fraud, according to a person familiar with the matter. A growing number of Deutsche Bank employees have been ensnared in the years-long probe, including investment bank head Garth Ritchie, as well as ex-chief executive officer Josef Ackermann and former co-CEO Anshu Jain. Sueddeutsche Zeitung reported on Thursday that about 70 current and former employees at Deutsche Bank are facing scrutiny.
Deutsche Bank has warned almost 1,000 corporate clients that they will lose access to basic banking services within weeks because it has not received documents needed to verify their identity. The Frankfurt-based lender has sent hundreds of the termination letters to blue-chip companies, underscoring how banks are scrambling to meet tougher anti-money laundering rules introduced by regulators around the world in recent years.
Deutsche Bank announced today its appointment as depositary bank for the NYSE-listed American Depositary Receipt program of GSX Techedu Inc. “The appointment of Deutsche Bank as depositary bank for the GSX Techedu American Depositary Receipt program demonstrates our ongoing commitment to the Chinese market,” said Brian Studdert, Global Head of Depositary Receipts at Deutsche Bank.
Dutch lender ING Groep has decided against a tie-up with Germany's Commerzbank, German business daily Handelsblatt said in a pre-released report on Monday, citing financial sources. ING's management opted not to pursue the merger a month and a half ago, Handelsblatt reported, after Commerzbank chief executive Martin Zielke and ING boss Ralph Hamers met twice to discuss a potential deal.
Deutsche Bank has discovered serious failings in its anti-money laundering and sanctions controls that allowed cheques and high-value electronic payments to be processed without proper screening. One of six “core deficiencies” was a “filtering gap” that affects cheques written by corporate clients to foreign recipients, according to people familiar with the review. While the use of cheques is in decline, Deutsche still processes about 50,000 a year through its UK and Ireland cash management unit.
The bank’s long-term issuer default rating was downgraded to BBB from BBB+, Fitch said in a statement on Friday. “The downgrade of Deutsche Bank reflects its continued difficulty and limited progress in improving its profitability and stabilizing its business model,” Fitch said. The bank has a total of 145.7 billion euros ($165.2 billion) of public bonds and loans outstanding, according to data compiled by Bloomberg.
Fitch Ratings has cut Deutsche Bank’s credit rating, heaping further pressure on the German lender after shares slid to a new all time low this week. Fitch on Friday evening said that it lowered Deutsche’s rating to BBB, or two notches above junk, on concerns over the bank’s ability to execute the restructuring necessary. The downgrade brings Fitch’s view more in line with the assessment of rival rating agency Standard & Poor’s (BBB+).
Wells Fargo & Co said on Thursday that it had appointed Deutsche Bank's Kate Clifford-Toomey to be chief operating officer for corporate risk. Clifford-Toomey joins the risk management team, led by Chief Risk Officer Mandy Norton, at a time when the bank is working to overhaul its risk management procedures to satisfy regulator demands. Regulators have held the San Francisco-based bank under a microscope since 2016 when whistleblowers revealed Wells Fargo had opened potentially millions of unauthorized accounts.
Citibank and Deutsche Bank have taken control of around $1.4 billion of Venezuelan government gold, which they received as guarantees for loans, as a result of U.S. sanctions on the Venezuelan Central Bank, according to five sources. Between 2014 and 2016 the central bank (BCV) used a portion of its foreign gold reserves to guarantee financial operations with banks to boost liquidity, with the intention of repaying the loans to avoid losing the gold. Five sources with knowledge of the deals said the BCV had agreed with Citibank and Deutsche Bank to buy back the gold in 2020 and 2021, but since the U.S. government imposed sanctions on the BCV in April the banks had invoked a condition of the contracts to retain ownership of the bars.
A group of U.S. Senate Democrats is urging the Federal Reserve to investigate Deutsche Bank AG's relationship with President Donald Trump and his son-in-law and adviser Jared Kushner. The lawmakers, led by Senators Chris Van Hollen and Sherrod Brown, the senior Democrat on the Senate Banking Committee, said news reports of potentially suspicious transactions at the bank involving Trump business entities merit further examination. The New York Times reported on May 19 that anti-money laundering specialists at the bank were overruled by executives after recommending several transactions involving entities controlled by Trump or his family be reported to the government as suspicious.
The deficit in goods and services shrank to $50.8 billion, nearly in line with economist estimates, from a revised $51.9 billion the prior month, according to a Commerce Department report Thursday. The merchandise-trade gap with China increased to $29.4 billion while the Mexico deficit narrowed to $7.9 billion.
Cologne prosecutors have launched a criminal investigation into Garth Ritchie, Deutsche Bank’s investment banking boss, and other current and former employees over their potential involvement in allegedly illicit tax transactions. The probe of the Deutsche employees relates to their potential involvement in trades handled by Germany’s biggest bank that were used by clients to trick tax authorities into refunding dividend tax that was never paid. People familiar with the matter said one current executive board member was targeted by the investigation — Mr Ritchie, who is also a deputy of Christian Sewing, the chief executive.
Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Deutsche Bank Mexico, S.A. New York, June 05, 2019 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Deutsche Bank Mexico, S.A. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.
The simultaneous decline of Volkswagen, Deutsche Bank, and Bayer raises questions about businesses in Germany.
As part of a financing agreement signed in 2016, Venezuela received a cash loan from Deutsche Bank and put up 20 tons of gold as collateral. In the meantime, opposition leader Juan Guaido’s parallel government has asked the bank to deposit $120 million into an account outside President Nicolas Maduro’s reach, which represents the difference in price from when the gold was acquired to current levels. As part of efforts to unseat Maduro, the U.S. and more than 50 countries have recognized Guaido as the legitimate leader of Venezuela even though he still doesn’t control key institutions at home, including the central bank.
shares slumped to a fresh record low Monday as pressure continues to mount on the region's biggest lender amid calls to increase its capital buffer and record low interest rates in the struggling European economy. The concerns have added a new dimension to this Thursday's European Central Bank meeting in the Lithuanian capital of Vilnius, one of the final interest rate decisions under the seven year tenure of President Mario Draghi, with investors now pricing in the possibility of fresh monetary stimulus or, at the very least, a longer-term projection for ultra-low and negative interest rates, both of which hurt commercial bank profitability. Limbo Time: How Low Can Deutsche Bank Go?
UBS Group AG and Deutsche Bank AG briefly explored a combination, a deal that on paper would bring together highly complementary businesses to create a leading regional lender. Discussions to marry Switzerland's and Germany's biggest banks stemmed from talks the two were having about combining just their asset management units, Bloomberg News reported. Deutsche Bank needs to arrest an erosion of confidence that has seen its share price drop to a record low.
A global trade war looms. A Swiss bank shows its diplomatic finesse. Credit Suisse on Monday appointed Zhenyi Tang , former chairman of Asia-focused CLSA broker, as its China chief executive. It is no ...