Monday, April 27, 2015

+++ News about the German-bank exchange rate +++: German bank Postbank wants to … – ABC Online

Monday, 04.27.2015, 11:13
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200 branches are faced with disaster, the Postbank sale -Mehrheit, cuts in investment banking: their Group restructuring will save even the German bank. At a press conference on Monday morning, the German bank peak will call for more details.

  • Operating costs by 2020, an additional 3 fall 5 billion euros
  • 200 branches are faced with disaster
  • Sale of 94-percent majority of Postbank decided
  • cuts in investment banking
  • German bank wants to withdraw from up to ten countries
  • All news on Market and Economy

The German bank acts on the brakes. By 2020, the operating costs will decline by an additional 3.5 billion euros, as the Dax Group announced in Frankfurt on Monday. To achieve this, the Institute expects recurring expenses of 3.7 billion euros.

is to contribute to the savings such as the closure of 200 of the approximately 750 stores by 2017. How many points are affected by the shrinkage rate initially remained open. The end of 2014, the Group had 98,000 full-time jobs well.

your share of Postbank wants to reduce the end of 2016 in a first step to at least below 50 percent, the German bank. The goal is a complete exit at Postbank, the board said on Monday. In a press conference (10.30 clock) of the German Bank Board to explain the reasons. The two co-heads of Anshu Jain and Jürgen Fitschen and Chief Strategy Officer Stefan Krause want to call in Frankfurt the details of the change of course

all current developments to change course at Deutsche Bank in the news ticker.

11.13 Clock: Jain explains where the 3.7 billion euro cost savings will come from. “It is planned savings. Fewer customers, fewer locations – that alone will save 1.4 billion euros”

11.07 Clock: Jain notes: Postbank is now much better than it was a few years ago, it is more efficient. Nevertheless, one wants to de-consolidate the subsidiary. Jain: “Today we are announcing that we will buy another 2.7 percent of Postbank. This brings us to the important for a squeeze-out threshold of 95 percent. With the squeeze-out, we want to start at the end of August. “

By the end of 2016, the German bank would then bring the daughter back to the stock market and reduce their share while less than 50 percent.

10:59 clock: Co-chief Anshu Jain explains now why the German bank will do in 2020. These include: the restructuring of the private banking business and a new position in investment banking. But digitization and optimization of geographic presence to include

10:54 clock. The German bank wants to save in the course of their shrink course abroad. The Institute announced on Monday to try to withdraw from seven to ten countries . Currently, the German bank is represented in 70 countries. In Europe, the Institute next to Germany will focus on five markets where it already has over five million customers. This should be off the table a retreat from Italy and Spain, where the German manufacturer operates an extensive branch network. Which countries give up the Deutsche Bank, the Group was initially open.

10:49 clock: The cost range, the German bank has not reached its class goals, Fitschen admits. Among other things, the cost burden is enormous new ones introduced, bank runs. Also, the historically low interest rates make the deposit business of the Institute to create.

10:44 clock: The savings program was an “important milestone” for the bank. “The course is clear: We reaffirm our commitment to be a leading global and anchored in Germany bank.” To this end, the company wants to remain customer focused, however, will “redirect it towards those customer relationships that are mutually beneficial.”

In order to achieve the savings, the German bank expects one-time costs of EUR 3.7 billion euros from

10.35 clock. Jürgen Fitschen, Co-CEO of Deutsche Bank, opened the press conference in Frankfurt. At the very beginning he clarifies: “We provide a commitment to universal banking model, our customers appreciate it, to find all the services under one roof.”

Weakest Dax-value for the start of trading

9.54 Clock: The German bank was the start of trading on Monday weakest Dax value and disappointed investors with its new strategy. The stock fell more than three percent

German bank wants Postbank small shareholders get rid

9.08 clock. The German bank wants to get rid of the small shareholders prior to the planned separation from Postbank . At the Annual General Meeting of Postbank in August forced settlement (squeeze out) the other remaining shareholders to be decided, the largest German bank said in Frankfurt on Monday. By the end of 2015, the bank wants to be the sole owner of Postbank.

It is possible for the forced settlement by the recent purchase of a stake in Postbank on the market. Thus, the proportion rose to 96.8 percent last and thus climbed over the important for a squeeze-out 95-percent mark.

By the end of 2016, the German bank will then bring the daughter back to the stock market and their while reducing represented less than 50 percent. The decision to split the branch bank had made after a marathon session on Friday evening, the Supervisory

Video:. This 10 Dax bosses earn the most

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