Deutsche Bank Faces Fresh Investor Ire
World Economy

Deutsche Bank Faces Fresh Investor Ire

Deutsche Bank AG investors expressed their frustration with management at the company’s annual meeting a year ago. Weeks later, co-Chief Executive Officer Anshu Jain was gone.
Now it’s Chairman Paul Achleitner and Jain’s replacement, John Cryan, who are set to feel the displeasure of shareholders when they gather in Frankfurt on Thursday. With revenue plunging and the need for capital mounting, some investors worry it may be just a matter of time of before they’re asked to stump up and buy new stock, Bloomberg reported.
“The mood’s going to be bad, maybe even worse than at last year’s meeting,” said Klaus Nieding, vice president of DSW, a German firm that advises shareholders on company proposals.
Deutsche Bank shares dropped by almost half in the past year—erasing close to €20 billion ($22.6 billion) in market value—as plans to bolster capital and slash costs failed to revive confidence and profits shriveled across the industry. For Achleitner, a supervisory board dispute in April raised questions about his commitment to rooting out misconduct at Germany’s largest bank.
Debt-trading revenue, Deutsche Bank’s largest source of income, fell 29% in the first quarter from a year before, while net income dropped by 61%. Cryan told analysts last month that his efforts to overhaul the company and settle outstanding legal matters may lead to a second straight annual loss. “The issue that we have is that we want to get an awful lot done this year,” he said.


Short URL : http://goo.gl/OFYNLd
  1. http://goo.gl/4Hr8Be
  • http://goo.gl/qjDSA1
  • http://goo.gl/RLEhax
  • http://goo.gl/RUia1w
  • http://goo.gl/YiShx2

You can also read ...

Qatar Capable of Overcoming Siege Challenges
Qatar affirmed its ability to overcome the challenges of the...
Apple Inc won guarantees from the Trump administration that its lucrative iPhones would ship from China  without being subject to tariffs.
Big companies in the United States from Amazon.com Inc to...
Japan Inflation Inches Higher
Japan’s inflation picked up slightly in June, largely because...
State-Actors Likely Behind Singapore Cyberattack
State-actors were likely behind Singapore’s biggest ever...
Today, income inequality in the US is greatest among Asians. Asians displaced blacks as the most economically divided racial or ethnic group in the US.
The rich are getting richer and the poor are getting poorer in...
S&P Affirms Russia’s Stable Outlook
Standard & Poor’s said in a statement on Friday that it...
Argentina Making Fiscal Progress
Argentina is “unequivocally” making progress on its goals to...
US Tariffs to Cost Germans $23b
US President Donald Trump’s tariffs will lead to a drop in...