Deutsche Bank announced the implementation of the largest business transformation

Deutsche Bank announced the largest business transformation, aimed at increasing the bank’s profitability and the profitability of its shareholders. By 2022, the bank plans to significantly reduce investment banking operations and annual expenditures by 6 billion euros. To this end, its staff will be reduced by 18 thousand to 74 thousand employees by 2022. Low-yield assets worth about 74 billion euros will be transferred to a new division. All these processes will be financed by the internal resources of the bank. The capital adequacy ratio of the first level will be kept at a minimum level of 12.5%, in connection with which the payment of dividends on ordinary shares in this and next years will be stopped. Starting in 2022, the bank plan to return 5 billion euros to shareholders through repurchasing shares and paying dividends. The bank will spend 7.4 billion euros for the restructuring in the period up to 2022. The German bank plans to transfer technology for trading operations with shares and part of the employees of Deutsche Bank to the French bank BNP Paribas.

Related news

China's foreign exchange reserves exceeded forecasts in June

China has the largest foreign exchange reserves in the world. According to the People’s Bank of China, in June their volume increased by $18.23 billion compared to May, reaching $3 trillion 119.23 billion. This is the highest figure since ...

Sales of cars in China rose in June for the first time since May 2018

The China Passenger Car Association reported an increase in domestic car sales of 4.9% in May compared with the same month last year. In total, 1.8 million cars were sold in the country. In previous months, the association recorded a drop in ...

British Airlines may face $183.4 million fine due to leakage of customer data

The UK Information Commissioner's Office (ICO) has forwarded IAG, the parent company of British Airways, a notification stating that the airline will face £183.4 million fine. The airline is accused of non-compliance with the data protection ...

Germany's trade balance surplus increased in May

In May of this year, Germany recorded an increase in exports by 4.4% compared with the same month a year earlier to 113.9 billion euros. The volume of imports amounted to 93.4 billion euros, its growth was at the level of 4.9%. For the month, ...

Turkmenistan's GDP grew by 6.2% in the first half of the year

The economy of Turkmenistan in the first half of 2019 grew by 6.2% due to a stable fiscal and monetary policy. During this period, there was an increase in state budget revenues and investments. Speaking at a government meeting, Ggurbanguly ...
Get in touch with us