Deutsche Bank in trouble?

[imoldernu]

https://www.cnbc.com/2019/07/07/deutsche-bank-will-exit-its-global-equities-business-and-scale-back-investment-bank.html

Deutsche Bank announced Sunday that it will pull out of its global equities sales and trading business as part of a sweeping restructuring plan to improve profitability.
The bank will also slash 18,000 jobs for a global headcount of around 74,000 employees by 2022. The bank aims to reduce costs by 6 billion euros.
Deutsche expects its restructuring plan to cost 7.4 billion euros by the end of 2022.
The German bank also expects to report a net loss of 2.8 billion euros in the second quarter of 2019. It will release its second quarter results on July 25.

Whaddya think?

 

[Dtail]

Used to work for them. The traders dominated the firm and there were many internal controls needed to put into place. Obviously not enough.....

 

[zinger1457]

They have paid over $18B in penalties over the last decade, maybe they would have been more profitable if they followed the rules and regulations and ran a legit business.

 

[imoldernu]

More in detail here from WAPO:

https://www.washingtonpost.com/business/2019/07/07/trump-is-huge-headache-deutsche-bank-has-plenty-more/?utm_term=.45cb2aae22cd

 

[brucethebroker]

Sounds like a falling knife to me......

 

[brett]

It looks good on them.

 

[frayne]

They have paid over $18B in penalties over the last decade, maybe they would have been more profitable if they followed the rules and regulations and ran a legit business.

+1

 

[Go-NoGo]

+1

It's been an open secret for past 7 years (or longer) amongst people working in the biz that Deutsche bank was one of the weakest after the crash - they barely scraped through the Fed stress tests, and now they are kaput

 

[pb4uski]

It's been an open secret for past 7 years (or longer) amongst people working in the biz that Deutsche bank was one of the weakest after the crash ....

+1

 

[aja8888]

Other large Euro banks are in trouble also, especially in Italy and Spain.

https://wolfstreet.com/2019/06/15/l...h-spiral-european-banks-sink-to-dec-24-level/

European bank shares – which have been getting crushed and re-crushed for 12 years – are getting re-crushed again. On Friday, the Stoxx 600 Banks index, which covers major European banks, including our hero Deutsche Bank, dropped to an intraday low of 130.5 and closed at 131.2, thereby revisiting the dismal depth of December 24, 2018 (130.8).