deutsche bank may float asset management arm
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Deutsche Bank may float asset management arm

Arab Today, arab today

Arab Today, arab today Deutsche Bank may float asset management arm

Germany's largest lender Deutsche Bank
Frankfurt am Main - AFP

Germany's largest lender Deutsche Bank may sell off part of its asset management arm as it confronts a mammoth fine in the US over the subprime mortgage crisis, Handelsblatt newspaper reported Wednesday.

Bank insiders value the unit at around 6.0 billion euros ($6.4 billion), of which it might offer a quarter on the stock market, Handelsblatt continued, citing internal sources at Deutsche Bank.

The paper adds that a final decision has yet to be reached on the possible move.

Spokespeople for the bank were not immediately available for comment when contacted by AFP.

Offloading part of Deutsche Asset Management, which in September was overseeing around 715 billion euros, on the stock market would be an uncomfortable moment for the group.

Chief executive John Cryan labelled the unit "an essential component of our business model" in September, and it has continued to book reliable profits even as Deutsche has weathered severe headwinds in recent years.

But the bank needs to pay heavy fines and increase its capital to reassure regulators that it can withstand future financial shocks -- if possible without issuing more of its own shares.

As well as the increased regulation, higher capital requirements and historic low interest rates that all European banks have been faced with since the financial crisis, Deutsche is also entangled in thousands of legal cases worldwide.

The bank confirmed in mid-January that it had agreed $7.2 billion in fines and compensation with the US Department of Justice over its role in the subprime mortgage crisis.

Around 1.2 billion euros of the total will be reflected in its results for the fourth quarter of 2016, Deutsche said at the time.

The group is expected to present its annual results for last year on February 2.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

deutsche bank may float asset management arm deutsche bank may float asset management arm

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

deutsche bank may float asset management arm deutsche bank may float asset management arm

 



GMT 19:07 2017 Wednesday ,13 September

Kuwaiti oil barrel down 82 cents to US$50.56

GMT 03:02 2017 Saturday ,11 November

Drahi retakes the reins at Altice as share price tumbles

GMT 19:46 2016 Friday ,07 October

Football: Saudis deny Australia with late equalizer

GMT 22:01 2017 Thursday ,20 April

52 ships transit Suez Canal

GMT 04:28 2016 Monday ,14 November

Fujairah seeks partnerships with all investors

GMT 15:32 2017 Saturday ,25 February

Steinmeier elected German president

GMT 09:25 2017 Sunday ,24 December

HRH Premier Prince Khalifa bin Salman leaves Thailand

GMT 13:39 2017 Sunday ,17 December

Britain must obey EU environment rules
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday