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Deutsche Bank AG (DB)

  • Mon, Jul. 6, 9:10 AM
    | Mon, Jul. 6, 9:10 AM | 1 Comment
  • Wed, Jul. 1, 7:55 AM
    • On his first day on the job as Deutsche Bank (NYSE:DB) CEO, John Cryan delays a planned overhaul by 90 days, but tells employees not to expect just "sweetness and light in the coming months."
    • As for recent misconduct: "I can tell you that we will decisively identify problems, apply fixes and hold accountable those who misbehave."
    • Full letter
    • The stock's higher by 4.1% in Frankfurt alongside a sizable Greek-related European rally.
    | Wed, Jul. 1, 7:55 AM | 1 Comment
  • Mon, Jun. 29, 9:16 AM
    | Mon, Jun. 29, 9:16 AM | 9 Comments
  • Fri, Jun. 19, 11:06 AM
    • At stake is a package of (mostly non-performing/defaulted) Irish real estate loans held by Lloyds (NYSE:LYG) with a face value of €4.2B. Initial offers were submitted for theProject Poseidon  portfolio - which could go for less than €0.30 on the euro  - earlier this month, with Goldman Sachs (NYSE:GS) and Deutsche Bank (NYSE:DB) facing off to be the lucky buyer, according to Bloomberg.
    | Fri, Jun. 19, 11:06 AM | 8 Comments
  • Wed, Jun. 10, 10:01 AM
    • More than six years after the bottom, only four of the globe's biggest banks sport stock prices trading at a premium to book value. Leading the way is UBS at about 1.4x book. Goldman Sachs (NYSE:GS), JPMorgan (NYSE:JPM), and Morgan Stanley (NYSE:MS) also trade for north of book.
    • Deutsche Bank (NYSE:DB) - whose ROE of 2% is about one-tenth of what it was pre-crisis - brings up the rear at just about 0.5% of book. Barclays (NYSE:BCS) sells for roughly 0.7x book, and Bank of America (NYSE:BAC) only slightly more than that.
    • Checking further on ROE, Goldman leads the way at about 12%. Citigroup (NYSE:C) is less than 5%, but stands out as being the only bank with a higher ROE today than before the crisis.
    • Looking at total return since the crisis, Goldman again leads the way at about 170%, with Morgan Stanley and JPMorgan a close second/third. Citigroup is the only major bank with a negative total return over that time frame.
    • Source: Bloomberg
    | Wed, Jun. 10, 10:01 AM | 13 Comments
  • Tue, Jun. 9, 1:09 PM
    • Citing the reduced prospect of government support in a times of stress, S&P cuts the credit ratings of Deutsche Bank (DB -2.4%), Royal Bank of Scotland (RBS +0.7%), and Commerzbank (OTCPK:CRZBY +0.1%) to BBB+, three notches above junk territory. Barclays (BCS +0.2%) is downgraded to A-, one notch above the other three.
    • For RBS, Barclays, and Commerzbank, it was a one-notch downgrade. For Deutshce, two notches.
    • Source: WSJ
    | Tue, Jun. 9, 1:09 PM | Comment!
  • Tue, Jun. 9, 7:28 AM
    | Tue, Jun. 9, 7:28 AM | 1 Comment
  • Tue, Jun. 9, 3:53 AM
    • When the two executives who lead Deutsche Bank (NYSE:DB) unexpectedly announced their resignations on Sunday, pressure from angry shareholders was widely seen as the chief factor.
    • But regulators also played a role in the departures, NYT reports, saying German financial watchdog BaFin pressed the co-CEOs to resign due to the way they handled an investigation into the alleged manipulation of interest rates by bank employees.
    • A spokesman for Deutsche Bank strongly denied the claim.
    • Previously: Deutsche Bank's co-CEOs resign (Jun. 07 2015)
    | Tue, Jun. 9, 3:53 AM | 1 Comment
  • Mon, Jun. 8, 9:16 AM
    | Mon, Jun. 8, 9:16 AM | 8 Comments
  • Mon, Jun. 8, 7:16 AM
    • "With John Cryan as CEO, we think that Deutsche (NYSE:DB) is transitioning from one of the least credible management teams in investors’ minds to one of the most highly regarded," says John Cryan from Jefferies. "“We do not foresee a dramatic change in strategy or capital raising, but market confidence on delivery should clearly increase.”
    • The stock's currently higher by 6% in premarket action.
    • Cryan earned positive reviews after taking the CFO's job at UBS in 2008, and helping to lead that bank back from the crisis. He left UBS in 2011 to join Singapore's Temasek Holdings, and came to Deutsche in 2013.
    • Previously: Deutsche Bank's co-CEOs resign (June 7)
    | Mon, Jun. 8, 7:16 AM | 4 Comments
  • Sun, Jun. 7, 10:30 AM
    • Jürgen Fitschen and Anshu Jain will step down. Jain will leave on June 30. Fitschen will remain co-CEO until May 19, 2016, "to help ensure a smooth transition."
    • They will be replaced by John Cryan, who becomes co-CEO on July 1. Cryan has been a member of Deutsche Bank’s (NYSE:DB) supervisory board since 2013, and has served as chairman of the audit committee and a member of the risk committee.
    • Shares of DB are -45% over the past 5 years.
    • The move follows the resignations of CEOs at Credit Suisse, Standard Chartered, RBS, Barclays, UBS, and Credit Agricole.
    • Source: press release
    • Previously: Report: Deutsche probes more than $6B in Russian money laundering (Jun. 5)
    | Sun, Jun. 7, 10:30 AM | 11 Comments
  • Fri, Jun. 5, 3:09 PM
    • An internal probe of possible wrongdoing by Deutsche Bank (DB -2%) is in its initial stages, reports Reuters. For its part, Deutsche goes no further than repeating a statement that it has suspended a small number of traders in Moscow and is conducting a review.
    • “The misconduct was on the part of the client," according to Reuters' source. "The bank got used. The internal probe will try to determine how the bank got used."
    | Fri, Jun. 5, 3:09 PM | 2 Comments
  • Tue, Jun. 2, 3:22 PM
    • In the middle of overhauling its own technology infrastructure, Deutsche Bank (NYSE:DB) looks to speed up the development of "fintech" companies with three technology innovation labs this year in Berlin, London, and Silicon Valley, according to Reuters.
    • Detusche hopes to screen roughly 500 fintech startups per year n the fields of security, payments, efficiency, organization or process applications. Peers like UBS and Commerzbank have done the same.
    • The bank has not set aside a specific amount of money to invest in the firms, but instead will aim to partner with startups by perhaps using the technology itself or pushing it to clients or other areas of the financial sector.
    | Tue, Jun. 2, 3:22 PM | Comment!
  • Tue, May 26, 8:37 PM
    • With attention already starting to shift to regulatory approval, Charter Communications (CHTR +2.5%) CEO Tom Rutledge says his company's $55B acquisition of Time Warner Cable (TWC +7.3%) will do better with the FCC than Comcast's: Think small.
    • "If you look at the ecosystem, who we're playing with in terms of other competitors, they're very large, and we'll still be a relatively small company compared to the large phone companies, compared to Comcast, compared to the wireless companies," he told CNBC.
    • Charter's simultaneous deal for Bright House Networks may pump up its own leverage, but it was critical to the TWC bid, says analyst Craig Moffett: Virtually debt-free Bright House and its borrowing capacity likely added as much as $18/share to Charter's $195.71/share offer. Moffett says TWC's handling of Altice's (OTC:ATCEY) counter-play was masterful.
    • About that debt: TWC bondholders are still nervous about the combined load (While the firm's 30-year bonds rose 11.7% today, they're still down about 16% from last month). Moody's is likely to push TWC into junk rating territory as debt-to-EBITDA rises from TWC's 2.97 to about 4.79 for the combination. But again, Bright House's addition and "conservative voice on the board" may be mitigating the effects.
    • And MoneyBeat's deal tally: Aside from big winner TWC, winners include Goldman Sachs (NYSE:GS), (eventually) rewarded for backing Charter, and UBS, working as sole adviser to Bright House; Losers include Comcast backer JPMorgan Chase (NYSE:JPM), and Deutsche Bank (DB -3.4%) -- a Charter backer back when, but unseen in the new deal.
    • Previously: Charter to merge with Time Warner Cable, buy Bright House (May. 26 2015)
    | Tue, May 26, 8:37 PM | Comment!
  • Fri, May 22, 12:10 PM
    • Welcome back my friends to the show that never ends ...The New York Department of Financial Services is probing more abuse of forex markets by the banks - this time by the use of automated trades driven by computer algorithms, reports the FT.
    • Findings could indicate more widespread abuse than what U.S. and U.K. authorities disclosed on Wednesday (along with nearly $6B in fines and a number of guilty pleas). Sources remind that this week's charges related to manipulation performed by bank employees, but this probe covers electronic trading, which accounts for the majority of forex transactions.
    • Trading platforms under the scope include those from Barclays (NYSE:BCS) and Deutsche Bank (NYSE:DB), and information has been subpoenaed from BNP Paribas (OTCPK:BNPQF), Credit Suisse (NYSE:CS), Goldman Sachs (NYSE:GS), and SocGen (OTCPK:SCGLY).
    • The investigation into Barclays is the most advanced, but DFS has initially reached similar nefarious conclusions about the goings-on at Deutsche too. The probes of the other lenders are at even earlier stages.
    • Previously: Lawsky stepping down as New York's top bank regulator (May 20)
    | Fri, May 22, 12:10 PM | Comment!
  • Thu, May 21, 3:16 AM
    • Deutsche Bank (NYSE:DB) reshuffled its management board late on Wednesday, consolidating restructuring authority under co-Chief Executive Anshu Jain while waving goodbye to its retail banking head Rainer Neske.
    • The shake-up comes before today's contentious annual meeting. Shareholders have previously expressed dismay at the bank's lagging profits, hefty fines and sluggish reforms.
    | Thu, May 21, 3:16 AM | Comment!
DB vs. ETF Alternatives
Company Description
Deutsche Bank AG is an investment bank. It offers investment, financial and related products and services to private individuals, corporate entities and institutional clients around the world.
Sector: Financial
Country: Germany