the captains of The Dax ready to do their part, according to Handelsblatt, to save Deutsche Bank . The newspaper writes that the leadership of the great German industry met to devise a plan of support for the bank of Frankfurt in the case of a capital increase. And adds that the project also involves the government and the ministry of Finance, which could clearly have a role as a pivot to save the bank and the same fate of the executive Merkel.
Meanwhile, the title has opened up the Xetra exchange 12.21 euro (+1,45% at 10:00 a.m.), well away from those nine euros recorded in the past few days that have set a new historical minimum of the German bank.
The motivation lies in the fact that Deutsche Bank has received a fine colossal $ 14 billion dollar (and not the only one pending) from the ministry of Justice in relation to the mortgage loans-sub-prime credit crisis of 2008 and the vertices of the bank, as well as that of the government, chancellor Merkel, are in conversation in the Usa these days to try to settle as much as downward. Deutsche Bank has set aside in the budget $ 5.5 billion in this regard, but may not be enough and forcing the bank to a strong increase of the capital.
In the meantime, the Bloomberg agency, taking the news of Handelsblatt, and added that the investment bank american are holding informal talks with representatives of Deutsche Bank to probe the two options, the subscription of a package of shares of about 5 billion euros (this also write in German), and the eventual disposal of assets.
Five billion is the maximum amount of shares that the bank may be placed without requiring approval of the shareholders. If you need a higher amount, the manager should address the members. Bloomberg has estimated, on the basis of previous cases, that the fine on the mortgages-subprime could amount to between 4 and 8 billion dollars.
This morning, the website of the Financial Times wrote that Deutsche Bank is working to dimension the goose that lays golden eggs, is the asset management. At the moment the vertices of Frankfurt have not yet decided what percentage to turn on floating. The operation, according to various sources contacted by the british newspaper, should take place in the first half of 2017.
The asset management, reminds us of the FT, has 719 billion euros of assets under management and, according to analysts, is worth around 8 billion euros. John Cryan, chief executive of Deutsche Bank , it should meet the representatives of the ministry of Justice today, according to sources of the newspaper English. The manager is in Washington with many members of the global finance for the annual meeting of the international monetary Fund and the world Bank. The same source added that it is unlikely that the bank will find today a definitive agreement with the united states courts.
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