MarketWatch  58 min ago  Comment 
While investors continue to eye the Federal Reserve’s interest rates policies for the impact they could have on the financial sector, a pair of company-specific news stories, involving Wells Fargo and Deutsche Bank, have overshadowed that issue...
Benzinga  3 hrs ago  Comment 
On CNBC's Fast Money Final Trade, Tim Seymour recommended a long position in Barrick Gold Corporation (USA) (NYSE: ABX). Karen Finerman is bullish on Deutsche Bank AG (USA) (NYSE: DB). She owns the November expiration call options in the name...
newratings.com  3 hrs ago  Comment 
Deutsche Bank AG: Release according to Article 26, Section 1 of the WpHG [the German Securities Trading Act] with the objective of Europe-wide distribution ^ Deutsche Bank AG 11.10.2016 12:16 Dissemination of a Voting Rights Announcement,...
New York Times  Oct 10  Comment 
Recent efforts by corporations to settle criminal cases have all the hallmarks of the kind of posturing seen at a poker table.
Yahoo  Oct 10  Comment 
Threatened with a multi-billion-dollar fine from US regulators, Deutsche Bank is rethinking elements of its year-old strategic overhaul.
Clusterstock  Oct 10  Comment 
Deutsche Bank was given special treatment by the European Central Bank during recent stress tests carried out on Europe's biggest banks, as first reported by the Financial Times on Monday. The FT's Laura Noonan, Caroline Binham, and James...
guardian.co.uk  Oct 10  Comment 
Negative sentiment knock 4% off the share price of Germany’s biggest bank in early trading on DAX Uncertainty about the size of the penalty that Deutsche Bank faces from the US authorities for a mis-selling scandal a decade ago has knocked...
The Economic Times  Oct 10  Comment 
New banking regulations imposed in the wake of the 2009 financial crisis discourage large bets on risky assets, and have forced Deutsche Bank to drastically cut back the scale of its derivatives exposure.
newratings.com  Oct 9  Comment 
FRANKFURT (dpa-AFX) - Deutsche Bank AG's (DB) negotiations with the U.S. Justice Department to resolve a years-long investigation into the lender's handling of mortgage-backed securities are continuing, according to report citing people...


Deutsche Bank AG (NYSE:DB) is a global financial services firm that offers various financial and investment products to individual, corporate, and institutional clients. Deutsche Bank operates in three divisions: Corporate and Investment Bank, which advises corporate and institutional clients on structuring financial transactions and provides debt and equity issuance; Private Clients and Asset Management, which serves retail and institutional clients and high net worth individuals; and Corporate Investments, which manages the firm’s investments, including its alternative assets. Deutsche Bank’s other offerings include life insurance and mortgage products and services.

Business Overview

Founded in 1870, Deutsche Bank AG was established as an international financial services firm aimed at promoting trading between Germany and other markets throughout Europe and the world. Since then, Deutsche Bank has grown into a leading financial services firm, offering a wide range of financial and related products and services. With nearly 78,000 employees and $2.67 trillion in assets, Deutsche Bank is one of the largest financial institutions in the world.[1]

The firm operates in three divisions:

  • Corporate and Investment Bank (CIB) advises institutional clients on how to structure and execute transactions like mergers and acquisitions. CIB also handles the origination, sale, and trading of equities, debt, and other types of securities.[2]
  • Private Clients and Asset Management (PCAM) provides investment advisory and management services to both institutional and retail investors. Deutsche Bank’s private banking division, which serves high-net-worth individuals and families as well as certain small businesses, also operates within the PCAM segment.
  • Corporate Investments (CI) manages Deutsche Bank’s own investments, including alternative assets like private equity and real estate investments; CI also includes a portfolio of industrial holdings, but these are being eliminated. This segment’s performance depends on changes in the values of its holdings, making it more variable and uncontrollable than Deutsche Bank’s other divisions.

Business & Financial Metrics[3]

In 2009, DB generated a net income of €4.95 billion on revenues of €27.95 billion. This represents a turnaround from 2008, when the company incurred a net loss of €3.90 billion on €13.61 billion in revenues.

Trends and Forces

Declining global M&A activity

When economic conditions take a turn for the worse, fewer firms look to buy and sell other companies, leading to lower revenues for Deutsche Bank and other investment banks that structure these types of transactions. The spreading effects of the credit crunch and the slowdown in the U.S. housing market could drive down the frequency of mergers and acquisitions worldwide. Deutsche Bank would be especially hard hit by a global slowdown in M&A activity since its Corporate and Investment Bank division accounts for well over half of the firm’s pretax income.[4]


As a diversified financial services firm, Deutsche Bank’s operations span both investment banking and retail banking. Since over half of its profits come from investment banking, however, it’s most often compared to other I-banks such as Goldman Sachs Group (GS), Morgan Stanley (MS), and Merrill Lynch (MER). As Deutsche Bank pares down its retail operations to focus on higher-margin investment banking segments, this comparison will continue to become more appropriate.


  1. Deutsche Bank Interim Report as of September 30, 2007 - Fact Sheet
  2. Deutsche Bank Interim Report as of September 30, 2007 - Segmental Results of Operations 9M2007
  3. DB 2009 20-F pg. 2  
  4. Deutsche Bank Annual Report 2006 - Results by Segment
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