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Deutsche Bank shares fall after reporting third quarter earnings

Deutsche Bank shares fall after reporting third quarter earnings

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Earlier this year, Deutsche Bank announced a wide restructuring plan in an attempt to revive its business. Deutsche Bank’s asset management arm DWS said on Friday it now sees a 45% chance that Britain will not leave the European Union at all, as the prospects of a UK snap election, a second referendum or even revoking Brexit altogether have climbed this month. Deutsche Bank’s DWS asset management subsidiary is doing away with most titles as of next year, according to an internal memo on Tuesday. Chairman Paul Achleitner on Friday bought nearly a 1 million euros (£915,717.35) in the bank’s shares, according to a filing. Deutsche shares were down 1.2% at 1259 GMT, trading at 7.009 euros per share.

Earlier this year, Deutsche Bank announced a wide restructuring plan in an attempt to revive its business. At the time, Christian Sewing, CEO of Deutsche Bank, said the lender would be exiting its global equities business, scale back investment banking and slash thousands of jobs.

FIXED INCOME FALLRevenue at Deutsche’s cash-cow bond-trading division fell 13%, highlighting continued weakness at its investment bank. The third-quarter loss compares with a 3.15 billion euro loss in the second quarter brexit news and a 229 million euro net profit a year earlier. The bank is aiming to break even in 2020, but analysts are concerned about its ability to generate revenue. Deutsche Bank shares have lost 33% over the last 12 months.

Deutsche Bank shares declined Wednesday in an otherwise listless European stock market which paused ahead of a critical European Central Bank decision. Shortly after presenting the plans for a major restructuring of Germany’s largest bank at the beginning of July, CEO Sewing said that he wanted to „set a good example“ and announced to „invest a considerable part of my fixed salary over the next few years“. Until the end of the share remuneration program, the total stake of Deutsche Bank CEO Sewing would amount to approximately 850,000 euros (932,000 U.S. dollars).

Deutsche said at the time it would be cutting its stock sales and trading unit as part of its plan to rid itself of the more volatile divisions. „Bond trading is about all it has left in investment banking,“ Wilson said. Sales in that unit plunged 13%.

Out of a planned 18,000 job cuts, Deutsche eliminated 1,500 in the third quarter, though the number of employees in its investment bank rose as an intake of new graduates offset staff cuts in equity trading. Credit Suisse on Wednesday reported a rise in third-quarter earnings buoyed by higher revenue in markets and international wealth management. Standard Chartered’s profits rose 16% helped by rising income from corporate and private banking clients. The bank’s shares fell nearly 9% late afternoon in Frankfurt and were heading for their biggest daily loss in almost three and a half years. The bank had flagged in July it would make a loss this year and announced restructuring plans worth $7.4 billion including the elimination of 18,000 jobs.

FRANKFURT (Reuters) – Deutsche Bank Chairman Paul Achleitner on Friday bought nearly 1 million euros (915,717.35 pounds) in the bank’s shares, according to a regulatory filing.

Achleitner bought the shares at 6.844 euros per share, according to the filing. Deutsche Bank supervisory board members receive part of their annual compensation in shares, but Friday’s purchase is not part of that. But after a string losses and scandals, Deutsche is going through one of the biggest overhauls to an investment bank since the aftermath of the financial crisis.

BERLIN, Sept. 2 (Xinhua) — Christian Sewing, head of Deutsche Bank, has stood by his word and is to receive part of his monthly income in shares of the German banking group over the next few years, the company announced on Monday. The costs of that overhaul — €315 million in spending on „severance and transformation-related charges“ — dragged on the bank’s third-quarter earnings. The shares tumbled 4.8%. Deutsche Bank has now priced 21 ECM transactions since repositioning its equities business. Deutsche Bank was joint bookrunner on the 5.75 billion US dollar Hong Kong IPO (including greenshoe) of AB Inbev’s Budweiser Brewing Co and financial advisor to Naspers on its 120 billion euro listing of Prosus.

  • Its stock price is down by about 16% from a year ago.
  • Shortly after presenting the plans for a major restructuring of Germany’s largest bank at the beginning of July, CEO Sewing said that he wanted to „set a good example“ and announced to „invest a considerable part of my fixed salary over the next few years“.
  • Deutsche Bank was joint bookrunner on the 5.75 billion US dollar Hong Kong IPO (including greenshoe) of AB Inbev’s Budweiser Brewing Co and financial advisor to Naspers on its 120 billion euro listing of Prosus.
  • Credit Suisse on Wednesday reported a rise in third-quarter earnings buoyed by higher revenue in markets and international wealth management.
  • Deutsche shares were down 1.2% at 1259 GMT, trading at 7.009 euros per share.

Deutsche Bank AG shares are currently trading up about 1.8% on the day. As part of the restructuring plans, the number of full-time employees at Deutsche Bank is to be reduced by around 18,000 to 74,000 worldwide by the end of 2022.

The German bank plans to cut 18,000 jobs worldwide by 2022. shares fell more than 8% on Wednesday after the bank reported an 832 million euro ($924 million) third-quarter loss hurt by restructuring costs and weakness in fixed-income trading.

Deutsche Bank shares slide as Europe stocks drift before ECB meeting

The embattled German lender has struggled since the global financial crisis of 2008 and the subsequent debt crisis in the euro area. The bank has faced billion-dollar fines, increased market competition, a lower market share in both commercial and investment banking, as well as a series of management changes. FRANKFURT (Reuters) – Deutsche Bank Chairman Paul brexit история Achleitner on Friday bought nearly 1 million euros (915,717.35 pounds) in the bank’s shares, according to a regulatory filing. „One has to look very hard to find anything positive in Deutsche Bank’s results this quarter,“ said Octavio Marenzi, CEO of capital markets management consultancy Opimas. Net revenues in investment banking fell 5% from a year ago.

It had reported a net profit of 229 million euros in the third quarter of 2018, but a loss of 3.15 billion euros in the second quarter of this year. Deutsche Bank reported a net loss that missed market expectations on Wednesday as a major restructuring plan continues to weigh on the German lender. Deutsche Bank on Wednesday posted an 832 million euro ($924.35 million) loss in the third quarter due to costs for a major restructuring. Deutsche Bank on Friday appointed Claudio de Sanctis as global head of its wealth management business. The 992,380 euros in shares that Achleitner bought on Friday exceed his 2018 fixed salary from Deutsche Bank of 858,333 euros.

The private bank business also saw a 3% fall in net revenues and net revenues in asset management also decreased by 4% from a year ago. „Our results in the quarter are entirely in line with our plans. We are executing, I think, well against the strategic changes we announced in the https://g-forex.net/chto-takoe-breksit-obzor-novostej/ summer,“ James von Moltke, chief financial officer at Deutsche Bank, told CNBC’s Annette Weisbach. It reported a net loss of 832 million euros ($924 million) for the third quarter of 2019. Analysts were expecting a loss of 778 million euros, according to data from Refinitiv.

According to a mandatory announcement, 15 percent of Sewing’s net executive remuneration will be invested in Deutsche Bank shares on a monthly basis from September brexit until the end of December 2022.

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