QUOTE AND NEWS
Benzinga  Dec 16  Comment 
Nu Skin Enterprises, Inc. (NYSE: NUS) may be in the dog house for many investors, but an analyst said the launch of its new anti-aging "system" will boost sales growth. The company gets 72 percent of its sales from Asia including China, and is...
Commodity Online  Dec 16  Comment 
As Continued strength in production growth poses the greatest risk for pricing in 2015 and Deutsche Bank lowers their price forecast to $3.75/mmBtu on expectations that supply will exceed requirements in a normal-weather scenario.
Clusterstock  Dec 15  Comment 
Deutsche Bank says the 10-year yield is going under 2%.  On Friday, the 10-year yield hit a new low for the year, closing at 2.1%. In early trade on Monday, yields were backing up some, but after a worse-than-expected Empire State...
Benzinga  Dec 15  Comment 
ConAgra Foods Inc (NYSE: CAG) will reports its second-quarter results on Thursday. Analysts are expecting the company to earn $0.60 per share in the quarter. In a note to clients on Monday, Eric Katzman of Deutsche Bank expects the company to...
Wall Street Journal  Dec 15  Comment 
Investment banking is now a tougher business, prompting some European banks to refocus their attention on other higher-returning areas. Deutsche Bank has fewer options than its rivals.
Benzinga  Dec 12  Comment 
Emerson Electric Co.'s (NYSE: EMR) process management business segment could get hurt buy a sustained period of low oil prices, an analyst said Friday. Deutsche Bank's John G. Inch downgraded Emerson to Hold, from Buy, citing a weakening...
Clusterstock  Dec 11  Comment 
By Supriya Kurane (Reuters) - The New York banking regulator is investigating if Deutsche Bank and Barclays Plc used algorithms on their trading platforms to manipulate foreign exchange rates, a source with direct knowledge of the matter told...
The Economic Times  Dec 10  Comment 
Given the very compelling valuations currently, we see significant upside for them," said Manish Karwa, analyst, Deutsche Bank.




 
TOP CONTRIBUTORS

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]

Competition

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.

References

  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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