Deutsche Bank: loss record 6 billion. Maxi plan cuts – Il Sole 24 Ore

History Article

Close

This article was published on Oct. 29, 2015 at 11:21.
The last change is the October 29, 2015 at 11:30 am.

A red from 6.01 billion in the third quarter is penalizing the Deutsche Bank on the square Frankfurt, where it transfers approximately 3.50%. To trigger the store also the announcement of the suspension of the dividend for the years 2015 and 2016 and restructuring charges of 3.8 billion euro. On the other hand it is a record net loss for the German institute, caused by significant write-downs and new forecasts of legal risks. Just think that in the same period of the previous year the group had lost “only” 94 million euro.

In fact it was not a cold shower for the market, because management had already announced the provisional figure in mid-October. The German bank now runs for cover and launches a plan of reorganization with drastic interventions: suppress nine thousand jobs and will withdraw its presence in ten countries. The goal is to get to save 3.8 billion by 2018.

The job cuts

Deutsche Bank will abolish 15 thousand jobs, of which 9 thousand indefinitely, and will withdraw its presence in ten countries. The goal is to get to save 3.8 billion by 2018. The German banking group announced that will come from Argentina, Chile, Mexico, Peru, Uruguay, Denmark, Finland, Norway, Malta, New Zealand. In Europe, the bank will strengthen its presence by focusing on synergies between Private Banking and Wealth Management. A reduction of 200 branches in Germany. Italy, in this framework, remains a key market for Deutsche Bank and any rumor of an alleged withdrawal is totally unfounded.

The plan for 2020, in fact, is much more drastic and provides a cut of number of customers served by the investment banking division of 50%.

© ALL RIGHTS RESERVED

Permalink

“+” “+”

“+ last + “ | “Datalunga + +” “+ time +” | real time

“);} else {$ (‘.finanza-right-art .GraficiAndamento’). append (” “+” “+”

“+ last +” | “+ datalunga +” “+ time +”

“);} $ (‘.finanza-right-art .TabellaDati’). append (”

”
 + “” + name + “

”
 + “” + last + “

”
 + “” + a + change + “

”
 + “” + time + “

”
 + ““); }}); $ (‘.finanza-Right-art .TabellaDati’). Trigger (‘dataloaded’); }, DataType: “json”, error: function (XHR, status, error) {console.log (status + “” + error); }});