MattZ
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Deutsche does not compete in the retail space. IBKR is reasonably priced, but brokers can offer lower cost and day trading margins.
Deutsche Bank will exit global equities business and slash 18,000 jobs in sweeping overhaul
- Thread starter ETJ
- Start date
Deutsche does not compete in the retail space. IBKR is reasonably priced, but brokers can offer lower cost and day trading margins.
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NOT to worry; when /if it gets to $5.00. they can do a reverse 10 to 1 split , like crooked Citi-Corp did. [Instant ''gain LOL'' stock goes from $5 to $50 overnite LOL. The good news is FORTUNE mag reported cutting 10k employes, sell in MAY. Christian Sewing may save it by 2022, 13 billion Euros in tech investment LOL.
BUT with Christian now cutting 18k bankers, which he should= looks like an overpriced community bank.Sorry for him that news comes in the weakest US stocks season= summer slump??
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I had very limited exposure to DB - mostly in the energy derivatives space. What struck me was the consistent rumors in the market about their desk taking some sort of hit. I never got the sense that their traders were on the same competency level as the Citadel or DRW desks or other serious banks like JPM or GS.
I think they are a massive commercial bank in Europe. They will become a Wells Fargo that’s Europe focused.
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DB is not in banking /insurance sector ETfs like FAS, IBKR is. DB used to be a money center bank; looks like a community bank now+ carries over 2x the debt% of crooked C, JPM, WFC.
I would not hold the 50 PE against them ,LOL but many would =since its about 5X Price Earnings of WFC, C, JPM.......... I do think the 31 EPS is among the worst of big banks.
DB barely above 50 dma, that is barely bullish +cant seem to stay above 50DMA?? But the bad news is ; 50dma cross +200 dma cross is a IBD short sell signal.
DB price is below 2008 bear hi + below 2008 bear low
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That's not so easy to accomplish. And comparing them to Wells Fargo is a stretch. For one thing, the ECB relies upon Bank provided information for their stress tests (The US Fed does their own independent audits). So you really can't have unwavering confidence with the quoted risk leverage ratios.
And if a Bank closes down their equities sales and trading desk - doesn't that make Investment Banking kinda tough? Steve Eisman says that European Banks have a tough time charging for customer service fees in this environment. I think destriero is right - they're done.
What I meant is that they have a huge retail operation in Europe. They won’t be done as they are too big to fail, though the shareholders might be.
Without equity sales and trading some banking business might be tough but a lot may not be - advisory and debt financing.
DealBook Briefing: How Deutsche Bank Plans to Save Itself
Deutsche Bank’s headquarters in Frankfurt.CreditMichael Probst/Associated Press
Image
Deutsche Bank’s headquarters in Frankfurt.CreditCreditMichael Probst/Associated Press
July 8, 2019
Good Monday morning. (Want this by email? Sign up here.)
Deutsche Bank’s painful self-help plan begins
The troubled German lender unveiled its long-awaited reorganization plan yesterday, which involves eliminating thousands of jobs and severely reducing its global ambitions. But is it too little, too late?
The bank plans to cut 18,000 jobs and shrink its global equities business. Top executives will leave, including its investment banking chief, and $300 billion worth of assets will be hived off in a “bad bank” to be sold off over time. The layoffs have already begun.
The firm will refocus its efforts on serving European companies and retail-banking customers, pulling back from nearly two decades of trying to compete with Wall Street giants. But its C.E.O., Christian Sewing, said this morning that the U.S. remains a core market for the bank.
The plan will cost the lender 7.4 billion euros, or $8.3 billion, in severance payments and other expenses through 2022. Dividends will be suspended for 2019 and 2020.
Deutsche Bank’s headquarters in Frankfurt.CreditMichael Probst/Associated Press
Image
Deutsche Bank’s headquarters in Frankfurt.CreditCreditMichael Probst/Associated Press
July 8, 2019
Good Monday morning. (Want this by email? Sign up here.)
Deutsche Bank’s painful self-help plan begins
The troubled German lender unveiled its long-awaited reorganization plan yesterday, which involves eliminating thousands of jobs and severely reducing its global ambitions. But is it too little, too late?
The bank plans to cut 18,000 jobs and shrink its global equities business. Top executives will leave, including its investment banking chief, and $300 billion worth of assets will be hived off in a “bad bank” to be sold off over time. The layoffs have already begun.
The firm will refocus its efforts on serving European companies and retail-banking customers, pulling back from nearly two decades of trying to compete with Wall Street giants. But its C.E.O., Christian Sewing, said this morning that the U.S. remains a core market for the bank.
The plan will cost the lender 7.4 billion euros, or $8.3 billion, in severance payments and other expenses through 2022. Dividends will be suspended for 2019 and 2020.
%%DealBook Briefing: How Deutsche Bank Plans to Save Itself
Deutsche Bank’s headquarters in Frankfurt.CreditMichael Probst/Associated Press
Image
Deutsche Bank’s headquarters in Frankfurt.CreditCreditMichael Probst/Associated Press
July 8, 2019
Good Monday morning. (Want this by email? Sign up here.)
Deutsche Bank’s painful self-help plan begins
The troubled German lender unveiled its long-awaited reorganization plan yesterday, which involves eliminating thousands of jobs and severely reducing its global ambitions. But is it too little, too late?
The bank plans to cut 18,000 jobs and shrink its global equities business. Top executives will leave, including its investment banking chief, and $300 billion worth of assets will be hived off in a “bad bank” to be sold off over time. The layoffs have already begun.
The firm will refocus its efforts on serving European companies and retail-banking customers, pulling back from nearly two decades of trying to compete with Wall Street giants. But its C.E.O., Christian Sewing, said this morning that the U.S. remains a core market for the bank.
The plan will cost the lender 7.4 billion euros, or $8.3 billion, in severance payments and other expenses through 2022. Dividends will be suspended for 2019 and 2020.
Good points on dividends smashed, nothing like a good trend.NOT a prediction+ not long TSLA...................................................................................................