|Bid||17.51 x 1000|
|Ask||21.64 x 2900|
|Day's Range||20.12 - 20.32|
|52 Week Range||19.71 - 29.42|
|PE Ratio (TTM)||N/A|
|Expense Ratio (net)||0.75%|
Deutsche Bank AG’s chief financial officer wants staff to think twice before booking a flight. James von Moltke urged employees in a memo circulated Friday to “take every opportunity to restrict non-essential travel” until the end of the year. The travel curbs are the latest example of the cost-cutting drive under new Chief Executive Officer Christian Sewing, which has targeted perks such as first-class train tickets and even daily fruit bowls, Bloomberg reported this month.
Deutsche Bank said Saturday that it is acting on its own to buy bonds of Noble Group Ltd., days before a crucial shareholder vote on a $3.5 billion restructuring of the Singapore-listed commodity trader. The confirmation comes a day after The Wall Street Journal reported the bank’s unexpected offer to buy the bonds. It wasn’t clear on Friday if Deutsche Bank was acting on behalf of another company or for itself, as banks typically handle bond tenders like this for clients.
Deutsche Bank has launched an unexpected offer to buy bonds of Singapore-listed commodity trader Noble Group Ltd., days before a shareholder vote on a $3.5 billion restructuring. The embattled Noble has been pursuing the restructuring for months as it seeks to stay afloat, address a liquidity crunch and in due course provide a return to shareholders who have watched the company’s market value decline to about $110 million from a peak of more than $11 billion in 2011. It wasn’t immediately clear if Deutsche Bank was acting on behalf of another company or for itself, although banks typically handle bond tenders like this for clients.
Genworth Financial Inc. (GNW) is trading at $4.57 per share on the New York Stock Exchange and has a market capitalization of $2.29 billion. The share price is nearly 72% above the 52-week low of $2.66 and only 7.7% off the 52-week high of $4.92. Warning! GuruFocus has detected 4 Warning Signs with GNW.
Deutsche Bank AG fixed-income traders generated a $35 million profit in two weeks as economic turmoil in Turkey triggered a slump in assets across emerging markets, according to people with knowledge of the matter. The traders, who work on a desk focused on Central and Eastern Europe, the Middle East and Africa, made more than $10 million on Aug. 10 when the Turkish lira plunged the most in almost two decades, the people said, asking not to be identified discussing private information. The desk, run by Aditya Singhal, has made about $135 million this year, the people said.
Deutsche Bank AG traders generated a $35 million profit in two weeks sparked by economic turmoil in Turkey. The Deutsche Bank fixed-income traders, who work on a desk focused on central and eastern Europe, the Middle East and Africa, made more than $10 million on Aug. 10 when the Turkish lira plunged the most in almost two decades, the people said, asking not to be identified discussing private information. The team was positioned to profit from any slump in asset prices across the region, they said.
Deutsche Bank’s supervisory board will discuss extending the contracts of its investment bank boss Garth Richie and a small number of other senior executives at its October meeting, a spokesperson told the Financial Times. German media reported earlier that Mr Ritchie’s contract, which is due to expire at the end of the year, had not yet been renewed. Mr Ritchie considered his future at the bank earlier this year, around the same time as chief executive John Cryan stepped down, but the South African was ultimately promoted to sole head of the investment bank.
A payments provider that gets 5 percent as much revenue as Deutsche Bank AG is now worth more than the German lender deemed by regulators to be one of the world’s most important banks. The stock, which has climbed by more than 84 percent this year, is set to join the country’s benchmark DAX index next month, possibly at the expense of Commerzbank AG. Payments companies are popular with investors because they can profit from the rapid global growth of online commerce and the use of mobile devices for banking -- without having to bear the costs of providing and managing long-term credit to the economy.
Deutsche Bank AG and Commerzbank AG -- hold the indignity of being the worst performers among European peers this year. Commerzbank, a member of Germany’s DAX Index since its inception in 1988, is in danger of losing its membership to payments provider Wirecard AG, whose shares have climbed more than 30-fold over the last 10 years as the established player lost more than 90 percent of its value. Commerzbank -- with a market valuation of just 10.4 billion euros -- is the lowest-ranking member of the 30 companies that comprise the DAX, while Wirecard would place just outside the top 20, making it a potential entry candidate in the quarterly re-balancing in September.
Deutsche Bank AG (USA) (NYSE: DB ) stock is down nearly 40 percent year-to-date, but one analyst says things are going to get much worse for Deutsche Bank investors before they get better. The Analyst ...
is a pillar of the German economy, and by extension, Europe's economy. Last week, Deutsche Bank stock reached its lowest level in decades, and earlier this month, the bank's senior non-preferred bonds were downgraded by Moody's to one level above junk. When Deutsche Bank reported earnings last week, the initial reaction was somewhat positive.
As concerns about potential "contagion" from Turkey's currency crisis and potential spillover effect on the European banking industry, analysts told Real Money that the main concern at Deutsche has much more to do with the company's internal figures and management than any international crises. "Turkey shouldn't be a big risk for Deutsche Bank," Philipp Hässler, equinet Bank AG analyst told Real Money by phone, noting Turkey is not one of their larger exposures.
is set to be a smaller company, Bank of America Corp. Bank of America expects Deutsche Bank to see weakness in earnings per share, as a number of headwinds will weigh on German bank's earnings. " Sustainable growth is out of reach," it added.
The dip buyers were so anxious to buy the "Turkey Contagion" headlines that appeared overnight that they had the indices back in green before the open. The DJIA was indicated down around 120 points or so overnight but is now up around 40 points.
Deutsche Bank AG has almost finished restructuring its Asian investment-banking business and plans to add bankers in the coming months, said regional head James McMurdo. “Yes we did trim, but we trimmed where we thought we were less competitive, or where we thought the opportunity was not that significant and that has largely been completed,” McMurdo, who leads corporate and investment banking for Asia Pacific, said in a phone interview Monday. McMurdo reiterated the lender is focused on Asia, servicing clients in local markets as well as global capital markets and cross-border deals.
In Deutsche Bank AG Chief Executive Officer Christian Sewing’s push to get back into growth mode, there’s one specific business in which there are pretty much no hiring limits. The private bank in Asia is still recruiting, even after bringing on board about 100 relationship managers and support staff in the first half, Lok Yim, who runs the Asia-Pacific wealth business, said in an interview. Few businesses offers such eye-watering opportunities for global banks right now as catering to Asia’s swelling millionaire class.
Bloomberg's Laura Keller reports on Deutsche Bank AG's cost-cutting activity. She speaks on "Bloomberg Markets." (Source: Bloomberg)
The list of perks at Deutsche Bank AG is shrinking fast. The frugal ethos described by half a dozen people with knowledge of the company’s policies reflects Chief Executive Officer Christian Sewing’s focus on saving after a series of botched turnaround efforts. The appointment of a new chief operating officer, Frank Kuhnke, as a direct report to Sewing is a signal that the CEO wants to have better control over processes and expenses.
The following financial services industry appointments were announced on Wednesday. To inform us of other job changes, email email@example.com. ** SANNE GROUP PLC Britain's Sanne Group Plc named ...
Deutsche Bank AG’s Southeast Asia vice chairman Philip Lee is leaving the German lender, capping a string of senior departures in the region. Lee, also the chief country officer for Singapore, is departing to pursue other interests, after building out the bank’s Southeast Asia client franchise over the past five years, according to an internal memo obtained by Bloomberg. David Lynne, who leads its global transaction banking team in Asia Pacific, will become Singapore chief country officer, the memo shows.
Deutsche Bank’s U.S. wealth-management arm plans to expand its relationship-manager ranks by 25% this year as it pushes for growth. Orders from the top are to “grow, grow, grow,” head of Americas wealth management Patrick Campion tells the publication. Two years ago, the company sold most of its U.S. private banking business to Raymond James.
Deutsche Bank AG had its credit rating cut to the lowest investment-grade level by Moody’s Investors Service, which cited a change in German law that took effect last month. Moody’s downgraded the bank’s senior debt to Baa3 from Baa2 and reclassified the bonds as junior senior debt. It “follows the introduction of a new senior unsecured debt class in Germany that ranks above outstanding” senior unsecured debt instruments, Moody’s said Friday in a statement.
Deutsche Bank AG had the credit rating of one type of debt cut by Moody’s Investors Service after a change in German law last month paved the way for a more senior kind of borrowing. In a move that was widely anticipated, Moody’s downgraded the bank’s senior non-preferred debt to Baa3 -- the lowest investment grade -- from Baa2 and reclassified the bonds as “junior senior” debt. Deutsche Bank Chief Financial Officer James von Moltke, in a call with analysts on July 25, called the expected downgrade a “technical adjustment” as a result of the legislative change.