•   
  •   

US News German bank increases quarterly profit

12:20  27 october  2021
12:20  27 october  2021 Source:   tagesspiegel.de

The railway wire lexicon: What are Scratch, Omnium, Keirin?

 The railway wire lexicon: What are Scratch, Omnium, Keirin? Bahnrad World Cup in Roubaix © Imago Images / Zum Wire Omnium race at the railway WM 2020 in Berlin. at maximum speed circular: railway sports looks so easy - and is relatively complicated. Unlike classic road races, it is not exclusively and always about driving the finish line first. There is a variety of competitions in which the World Cup title straps started on Wednesday (until 24 October), silver and bronze will be awarded.

Deutsche Bank posted a better-than-expected third- quarter 7% climb in profit on Wednesday, its fifth straight quarter in the black despite a decline in investment banking revenue. Part of that restructuring has involved reducing dependence on the at-times volatile income of the investment bank , but the division, as in recent quarters , was again the bank 's biggest revenue generator. Although revenue at the division declined 6% in the third quarter from a year earlier as a pandemic trading boom eased, it is on pace to match last year's, Deutsche Bank said.

The large German banks are also experiencing this. Although the economic situation in Germany is significantly better than in some other Member States, these banks are hardly recording any growth in profits . [4] Under the current conditions, realising higher income is indeed a challenge. If there is an increase in these and other alternatives to traditional financing via the banking sector, this may well provide incentives to push forward the consolidation urgently needed in this sector. In particular, the Landesbanken have already seen some changes. If Germany still had 12 Landesbanken before the

The German bank holds despite higher costs for the Group's restructuring towards more billion profit in the current year.

Wolken ziehen über die Zentrale der Deutschen Bank in Frankfurt. © Arne Dedert / dpa clouds gather over the headquarters of Deutsche Bank in Frankfurt.

Germany's largest money house made some previously, as the bank said more than a year on Wednesday in the third quarter. The institute has made five consecutive quarters of bottom line profit.

CEO Christian Sewing sees since 2019 ongoing restructuring, including the reduction of thousands of sites on the home straight. "Overall, we have shouldered already 90 percent of the expected burden of the transformation and are on track to have almost completely digested the conversion costs by the end of the year," the manager wrote to the workforce.

United Kingdom: Towards a decline in banks' taxes to save the City?

 United Kingdom: Towards a decline in banks' taxes to save the City? © Pixabay United Kingdom: Towards a decline in banks' taxes to save the City? This decision could be used to amortize the increase in corporate tax announced last March. You have to save the City of London. The Chancellor of the Echiquier, Rishi Sunak, could announce a decrease from April 2023 of a surcharge currently weighing the banks , when it reveals its budgetary orientations on October 27, according to information from the Financial Times. Wednesday 20 October.

© Provided by Zee Business. Private bank major Axis Bank has declared the highest-ever quarterly profit during the second quarter of the financial year 2021-22 (Q2FY22) amid improved asset quality, limited restructuring. Similarly, the net interest income (NII) grew marginally during the quarter on a year-on-year basis. The fourth-largest private lender reported 86 per cent YoY growth in profit to Rs 3133 crore during Q2FY22 as compared to Rs 1682.7 crore in the same quarter a year ago

FRANKFURT - German retail and distribution giant Metro said Tuesday it expects to have achieved a 'significant' increase in quarterly profits , thanks to 'very good' Christmas business and gains from the sale of its cash-and carry business in Vietnam We retain our original forecast," said chief executive Olaf Koch. Metro said it had completed the sale of its cash-and-carry business in Vietnam successfully at the end of December. The proceeds were expected to boost underlying or operating profit by "more than 400 million euros" (5 million), which would be included in the first- quarter accounts.

"At the same time it is also clear: We must on our disciplined way not a bit weary", warned Sewing. "Let us not repeat the mistakes from the past: that we lose momentum if we're back on track."

thanks to higher sales were the end of September before tax 554 million euro profit in the books. That was 15 percent more than in the summer of 2020. After taxes, earned the DAX companies, in the July to September 329 million euros, an increase of 6 percent. It yet minority interest and interest payments to be deducted for equity-related bonds, so that the shareholders at the bottom line profit of 194 million euros was accounted for - 7 percent more than a year earlier.

in the first nine months of this net profit totaled nearly 1.8 billion euros. For the full year 2020, the German bank after five years of losses, with 113 million euros had first black again the bottom line.

in UBS Tobt Travambampf for the Global Family Office: Circles

 in UBS Tobt Travambampf for the Global Family Office: Circles (Bloomberg) - In UBS Group AG, the independent status of the division could be called into question, which takes care of some of its richest customers. Reason for this are according to persons with knowledge of the situation internal disputes about how the profits between Wealth Management and Investment Banking are split. Most Read From Bloomberg Cities' Answer to Sprawl? Go wild.

The Swiss bank on Tuesday reported net profit attributable to shareholders of .3 billion for the period, up from billion in the second quarter . It marks a 9% increase in net profit from the same period a year before and the best quarterly results in six years. Describing the latest quarter , CEO Ralph Hamers told CNBC Tuesday: "There is continued momentum in the markets. We are getting more clients, clients are looking for alternative investments — we have been able to support them through the ecosystem of opportunities."

 Deutsche Bank Quarterly Profit Increases (DB). Benzinga Staff. {{following ? Share: Deutsche Bank (NYSE: DB ) has reported a 49% increase in its quarterly net profits . The increase is mainly attributed to decrease in write-downs and stronger corporate and investment banking performance. The company also presented an optimistic outlook for the next quarter .

"In the third quarter, we have again proven performance of our business," accounted Sewing. The income - that is, the total revenue - increased compared to the same period last year, contrary to expectations by about 100 million euros to just over 6 billion euros - and that, although they declined in the largest division, the investment banking compared to the strong prior-year period.

The bank is "to achieve a very good way to get a return on tangible equity of 8 percent after taxes, which we have set ourselves for 2022" further reiterated Sewing. "We now do everything we can to reduce our costs further, without compromising our controls."

The Bank emphasizes the branch network of its Postbank brand closer together than planned. By the end of 2023 the number of Postbank branches is expected to fall from about 750 to about 550th How many jobs eliminated by CFO James did not quantify von Moltke on demand. Of the nearly 500 stores with German bank logo end of this year will be left over 400th

Microsoft suggests, thanks to cloud boom sales expectations - Microsoft share on record rate

 Microsoft suggests, thanks to cloud boom sales expectations - Microsoft share on record rate The software giant Microsoft has earned magnificently in the past financial quarter thanks to its flourishing cloud services. The net profit of Microsoft climbed in the three months to the end of September year-on-year by 48 percent to $ 20.5 billion (€ 17.7 billion), as the Group announced on Tuesday after US stock exchanges. The strong increase was also owed a billion-densely tax credit. The proceeds of the company grew by 22 percent to $ 45.3 billion.

Merchants Bancorp ("Merchants") (Nasdaq: MBIN), parent company and registered bank holding company of Merchants Bank of Indiana ("Merchants Bank "), today announced that its Board of Directors declared the following quarterly cash dividends for the first quarter of 2021, in each case Merchants Bancorp is a diversified bank holding company headquartered in Carmel, Indiana operating multiple lines of business, including multi-family housing and healthcare facility financing and servicing, mortgage warehouse financing, retail and correspondent residential mortgage banking , agricultural

Bank OZK has increased its quarterly cash dividend in each of the last forty-three quarters . BERLIN (Reuters) - German logistics company Deutsche Post raised its financial outlook again on Wednesday after more than tripling its operating earnings in the first quarter , predicting e-commerce will keep booming and global trade will rebound. Deutsche Post DHL raised its operating profit forecast to more than 6.7 billion euros (.05 billion) in 2021 and more than 7 billion in 2023, up from a previous expectation of over 5.6 billion and over 6 billion, respectively.

The bank also mentioned that she had a Corona-2020 significantly put less money for possible loan losses The allowance for losses purred from 1.54 billion euros in the first nine months of 2020 to now 261 million euros together benefits. For the full year, the Board expects that the Institute of less than 0.15 percent of its loans constitute risk provisioning needs. So the burden would remain at 675 million euros.

customers must agree to fee increases

burdened was the quarterly result by 98 million euros as a result of a judgment of the Federal Court. He had decided that banks must obtain approval from customers for changes in terms and conditions. Many fee increases were therefore initially suspended. Bank customers can reclaim a portion of amounts paid in fees.

Since 2019, the German bank is rebuilding. The Institute has withdrawn from some business areas and reduced its capital market business. The number of full-time employees in the Group fell in late September at 84,512, a year earlier the figure was 86,984.

The board had already made public that it additionally for the restructuring of the Group in the current year about 700 million euros for computer systems, job cuts and the reduction must raise of office space. Thus, the total estimated cost of the reorganization then amount to 8.8 billion euros. In the third quarter, the cost of conversion of 583 million euros were almost six times as high as a year earlier.

success stories are available from the fund subsidiary DWS: The publicly listed company gathered SDax of investors in the third quarter, net 12 billion fresh money one. This pushed yields upwards. Pre-tax DWS earned on an adjusted basis to 271 million euros, or 26 percent more than a year ago - a record result.

DAX in record mood .
The German key index was able to set it up on Thursday a new record. © Provided by finanzen.net Daniel Roland / AFP / Getty Images The DAX rose to the trading start by 0.47 percent to 16,035.90 points and thus overcame the record high of mid-August. Afterwards, he could overpare this again, so the high of 16,050.60 meters is now. The German Leading Index is currently booking a supplement from 0.53 percent to 16,044.51 points.

usr: 1
This is interesting!