Saturday, April 25, 2015

Franikfurt / M .: Postbank – the unloved daughter – RP ONLINE

Franikfurt / M .. The German bank separates from its subsidiary, because the mass market binds too much capital, and puts too little. From George Winters

For four years, the German bank has tinkered at the almost complete takeover of Postbank. 2012 There was so much, and since then is integrated. But now it’s already all over again: The German bank separates from the majority of the Bonn Institute

The Supervisory Board of Dax Group decided to change course on Friday in a several-hour special session on how the money House announced in Frankfurt at night. , The type of separation remains open ,. Postbank should be “deconsolidated”. In any case, there should be a new (co-) owner. The bank wanted to “reduce at least below 50 percent,” their share of the Bonn Institute, said a spokesman.

This has the displeasure of the Postbank employees further enhanced. Yesterday, the strike in front of the headquarters in Frankfurt, which has become clearly visible in some. You are already mad for weeks because the management has denied them the desired extension of employment protection in 2020. Now they are made aware that they do not just play in the Group as employee first violin. – Postbank was an unloved daughter. The mass market of retail subsidiary was the person in charge once an anchor of stability and a counterpart to the high-yielding but risky business in the financial markets. All past. Now the total assets of 1.7 trillion euros could significantly shrink the sale, and would have the advantage that the ratio of banking and equity would cheaper. At the point the mortgage lending business of Postbank their estranged mother is a millstone around the neck.

This is true, however, for its own retail outlets of Deutsche Bank. A job cuts seem inevitable, experts say that hundreds of branches and thousands of jobs could be lost. From the perspective of trade union Verdi in the fight for workers’ interests above all an answer to the question is important, whether the sale of Postbank fewer jobs than EU also discussed elimination of the entire private client business. At least as important is whether a buyer is found for Postbank.

Either way, the German bank takes again a pivoting strategy. She has begun in the late 80s of last century to turn the big wheel in investment banking, but the deal with the small private clients continue to operate. Then came the “German Bank 24″, which should share the clientele into two classes – the high net worth individuals and the average saver. As the experimental fusion with Dresdner Bank failed, which was “Bank 24″ soon past, the German bank discovered the deposits back as the source. Finally, verleibte the Postbank with its 14 million customers. The private bank customers as a stable pillar for the Group’s success – this was after the tribulations of the financial crisis embassy. But that’s over. Instead, the future is in investment banking, asset management and business with the payments.

Source: RP


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