- A turnaround after seven years: The German bank separates from Postbank. This should help to meet stricter capital requirements and to make the Group more profitable.
- It is possible, according to a bank spokesman complete a sale or placement of Postbank shares on the stock exchange. More details will be announced on Monday the money home.
- In the investment banking and international business cuts are planned.
German bank is Postbank majority from
After months of struggle over the course of the German bank has prescribed a hard Schrumpfkur: She wants to separate from its majority stake in Postbank. This was announced by the Mutual Group in the early hours of Saturday after a seven-hour special meeting of the Supervisory Board.
It is possible, according to a bank spokesman, a complete sale or placement of Postbank shares on the stock exchange. Its share in Postbank from 94.1 percent last will reduce Germany’s biggest money home at least below 50 percent.
cuts are also planned in investment banking. The company also announced that its foreign activities to concentrate more. However, details to be announced until Monday.
Verdi sees “positive outlook”
The Postbank could “build a customer-focused bank of the good developments in recent years, with no future to the restrictions being subject to a particularly regulated global bank, “it says in the statement of the trade union Verdi. The decision to bring “positive outlook” for the employees in the Group (here the explanation in the text). “The next step for upcoming Verdi is now to provide job security for employees in the Group and enforce the no compulsory redundancies,” said Verdi boss Frank Bsirske.
What is also planned
As the German bank said in the evening, is also of reorganization of the models as well as management and supervisory structures continue. Thus, the efficiency-should be increased. The Bank also plans to invest in digitization more. The strategy deliberations of Deutsche Bank, the question had been whether the bank is expected to remain a universal bank, or whether it cleaves its retail business.
German bank ailing for years
The change in strategy was necessary because the German Bank ailing for years. High cost of litigation burden on the profits. Only on Thursday came out that the bank must pay a fine of 2.3 billion euros due to the manipulation of the Libor rate. In addition, the low interest rates and increasing demands of regulation. The financial institution has only a thin cushion.
The sale of Postbank, which was only adopted in 2010, was considered probable. As a result, the relationship between risk and capital is greatly relieved because Postbank awarded many construction loans that must be backed by high net worth.
Before the meeting of the Supervisory Board had hundreds Postbank employees demonstrated in front of the headquarters of Deutsche Bank in Frankfurt. Protests also occurred before the Postal Bank headquarters in Bonn. Rumors about a possible sale were among the reasons for the labor dispute at Postbank, the smoldering there for months. From Unsichterheit about their future employees laid repeatedly stopped work.
Their main demand to extend the dismissal rules until 2020, Postbank leaning so far off. A few days ago, the staff decided in a ballot for an indefinite strike. The purchased from Deutsche Bank 2008 Bank has so far proved very profitable for the parent company.