Daily Management Review

Deutsche Bank’s Aim Is ‘Not To Maximize Earnings For One Or Two Quarters’


11/29/2017


Arriving from the brink of collapse, and aiming for a “broader restructuring” would require two to three more year for Deutsche Bank.



Addressing the “Handelsblatt daily”, Deutsche Bank’s Co-Chief, Garth Ritchie informed that the task of “restructuring” the bank might last for a period of “two to three years” more.
 
According to the paper quoting Ritchie during a “joint interview” with fellow head, Marcus Schenck:
“With a little support from the markets it will be more like two years, but if markets remain as sluggish as they are, we might be talking about three years”.
 
Facing the brunt of a “series of scandals” and “lawsuits” coupled with “bets that went wrong”, the bank was at the brink of collapsing last year. While, sometimes “earlier this year”, the company informed that it plans on bringing together its “markets, corporate finance and global transaction banking divisions” on a common platform to create a “single corporate and investment bank”, in CIB, which would be a part of its “broader restructuring” plans.
 
Moreover, Schenck also stated that he did not hear any shareholders doubting the above mention strategy undertaken by the lender to restructure itself. In Schenck’s words:
“Our job is not to maximize earnings for one or two quarters. If that’s what we wanted we would just need to throw a few switches and we could report higher profits”.
 
 
 
 
References:
reuters.com







Science & Technology

Live Facial Recognition Cameras Will Be Used By London Police

Driverless Vehicle For Its Ride-Sharing Service Unveiled By GM’s Cruise

Amazon will allow customers to pay with palms instead of cards

Complete Computer System For Self Driving Cars Launched By Qualcomm

In A Lifetime We Could Accumulate 20Kg Micro-Plastic In Our Body

Creator Of The First 'Gene-Edited' Babies Of The World Gets 3 Year Jail Term In China

China to deploy giant Beidou global navigation system in 2020

VW Zwickau factory is getting ready for electric cars production

Airbus: Passenger hybrid aircraft to take off before 2035

Ocado To Introduce ‘Mini Robotic Warehouse’ With Standard Productivity

World Politics

World & Politics

French tour operators will stop sending tourists to China until February 21

US Will Not Give Visas To Pregnant Women To Prevent Organized 'Birth Tourism'

Heads of the European Council and European Commission sign Brexit agreement

UK adds Greenpeace, PETA to extremist organizations list

Indonesia, UAE sign nearly $23B deal

US to respond to Iran’s attacks on US bases in Iraq

Irish Passport issues hit record in anticipation of Brexit

Reporters Without Borders calls to release Julian Assange