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Politics Deutsche Bank with billions win

13:15  23 january  2022
13:15  23 january  2022 Source:   pressfrom.com

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again black figures in a full year, this time even a billions surplus - Deutsche Bank boss Christian Sewing is likely to present the balance sheet of the largest German cash building for the year 2021 for the coming Thursday with pride.

Die Zentrale der Deutschen Bank in Frankfurt am Main. © Arne Dedert / DPA The headquarters of Deutsche Bank in Frankfurt am Main.

But the German industry prime has long not achieved all self-stuck goals and the environment for banks remains difficult.

A good 1.6 billion euros profit

analysts expect around 3.5 billion euros in pre-tax profit for the full year 2021 at Deutsche Bank. Increased profit of just under 2.1 billion euros need to be deducted to pay interest payments to the holders of certain bonds, so that the market estimates published by the Bank are about 1.6 billion euros in profit. The Bank may also have benefited that it had to cover significantly less money for possible loan losses than in the Corona year 2020.

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In the final quarter of 2021, the Deutsche Bank has slipped according to analysts under the stroke, however, in the red figures - among other things Costs for the consolidated conversion. Previously, the institute had successfully completed five quarters in a row. In the full year 2020, after five loss years, Deutsche Bank had achieved profit for five loss years in a row with € 113 million under the stroke.

Sewing was moved to the Bank's boss in April 2018 and had prescribed a fundamental reorganization to the Institute - including the degradation of thousands. He supported the investment banking, from which worldwide stock trading, Deutsche Bank retreated.


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has not risen so far the plan to make the institute less depending on the fluctuating capital market business. In the event of analysts, the investment bank should have exceeded the only division of Deutsche Bank in the pre-tax profit last year with a good 3.8 billion euros. For comparison: In the private customer business, experts on average expect just 600 million euros profit before taxes.

Goldman Sachs earns significantly less

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Financial Officer James of Moltke had said the "Handelsblatt" at the beginning of January, in investment banking "in the current year in investment banking" with normalization, ie with slightly lower income ». The Executive Board assumes that business and private customer business "will" take a greater role as growth driver. "

hopes for better credit rating

tailwind hopes the money house hopes again improved credit rating notes. "We estimate that the rating downgrades in the past cost us revenues in the three-digit million area," said by Moltke. "According to the upgrades last year, we see that customers will make more business with us again."

The consolidated conversion, which was ultimately more expensive than planned, sees corporate boss Sewing on the destination straight, as the manager emphasized at the end of October: "Overall, we have already shouldered 90 percent of the expected burdens through the transformation and are the best way, the conversion costs to the end of the Year almost completely digested. "

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remedy remunerated, costs lowered - Sewing and his team have fulfilled some of their core promises. Now the management needs to convince the investors that the bank also earns permanently enough money. "The return target of eight percent is our northern star, the central orientation for the entire bank and the entire conversion», insured by Moltke's financial boss at the beginning of January. He was "very confident" that the bank will fulfill its self-set specifications in the current year.

Already at the end of October, Council of Experts had reaffirmed Sewing, the bank is "on a very good way to reach a return on the material equity of 8 percent after taxes we made for 2022». On March 10, the Executive Board wants to explain the investors, as Germany's largest cash office in the coming years could further increase profitability.

A first bright spot for shareholders: Sewings previous balance is hoping that Deutsche Bank pays a dividend after two zero rounds for the 2021 financial year. Analysts go on average of 30 cents per share.

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