Saturday, October 1, 2016

Deutsche Bank: Who benefits from the largest financial house in the country? – MIRROR ONLINE

Deutsche Bank is not at the top, not the cheapest current account, the cheapest home Loan or the most profitable money market account. Just the size she is at the front – it is the Bank with the largest balance sheet total in Germany. And, of course, the Worry that makes your customers, shareholders, and meanwhile, your employees.

Recently, I was approached in 2009 with a family festival on the financial situation of an individual Bank. In the past few days, the festival happened in the family of well-Known on the street and also from fellow Journalists. The people were mostly shareholders in the German Bank. Nearly 90 percent of the market value have long lost time shareholders in the past ten years.

a shareholder of the German Bank to be not a safe Bank any more, rather a financial Disaster. 90 percent loss in the case of a German group – that had previously only been known by the “people’s share” of the Telecom. Not even E. on and RWE are so broke.

After all, increasing dividends paid by Deutsche Bank from 2006 to 2014 to its shareholders. However, overall, significantly less than you shoveled your own Top bankers in bonuses on the salary account.

with a myth of tidying up: The precarious situation of the German Bank has little to do with the low interest rate policy of the European Central Bank or the high number of branches and employees in Germany.

It is also not up to the new statutory rules for dealing with the customers that the Bank is bad, worse than the competition. Rather, it is the dealing of the Bank with its customers in the period prior to the new rules. Investment banker Deutsche Bank are systematically – how can I put it – so-hard on the Wind sailing, the U.S. Department of justice, is now a big Pelle. Simply because you have broken the law. The 14-billion-Dollar claim by the U.S. Department of justice – will be applied to the actual payment at the end – is only the great symbolic exclamation mark to a whole chain of procedures.

How did it come to this?

The faded Management Anshu Jain and Jürgen Fitschen was right in his despair about the past. It is about cultural issues. The then Deutsche Bank CEO Josef Ackermann extended in 2004 with the Finger to the Victory sign, as he was acquitted of disloyalty because he had violated his duties, but just not so significant that it was enough for a conviction.

a Little later, at the beginning of the financial crisis in 2007, said Ackermann in a German talk show that consumers are protected in Germany, and, of course, in front of his clever bankers, but not the (alleged) Bank competition by the small düsseldorf-based IKB, because the are full of merchants.

The German Bank profited from the stupidity and the near-collapse of IKB. And the taxpayers – so we – could save the detour to the state-owned KfW, IKB. The talk is of eight billion Euro, the balance sheet had been effectively sunk. Then, the IKB for an Apple and an Egg was sold to a Texas grasshopper with the beautiful name Lone Star.

Who benefits from this behaviour?

Society is causing such a behaviour of serious damage. Not passion, but power, which creates Suffering. But a company needs to be not oriented to the common good.

the main thing, many will say, the Bank benefits to your customers, after all, 13 million in Europe, even without the Postbank. It asks only: what of it?

The credit borrowers. Deutsche Bank is also become in the past, due to particularly cheap loans.

The small investors. More than a hundred billion Euro to days of the due money, i.e. money that you could immediately withdraw, on account of the German Bank – with virtually no interest to throw off, in contrast to competitors such as ING DiBa.

By the shareholders, the speech was already. Only the Fund investors in the case of the daughters of DWS and dbxtrackers have seen in the last decade of above-average performance and also on your Deposit statements, documented. With the brand Maxblue, Deutsche Bank managed to bring a competitive securities on the market.

Of the eligible Fund managers also benefit from the Riester customers of the German Bank that made it through to the Riester-Fund savings plan. Most of the German Bank customer in search of a Riester contract were, however, intercepted before in the stores and in their pension savings in Commission-oriented Riester pension insurance of the group’s own insurer redirected Zurich, as Arno Gottschalk of the consumer advice centre Bremen criticised, quite rightly, open to the public.

What follows from this?

to be in the coming months, it will not be fun, shareholder, employee or customer of Deutsche Bank.

  • For most shareholders has occurred, the damage is already: Who has lost so much, gotta hope for a miracle, he wants to make his loss complete betting.
  • customer with mortgage will sorrow at least. Their contracts run exactly like that, no matter the stance of the Bank.
  • customer with Riester DWS Toprente have a good product, also the account with Maxblue you don’t need to worry. For Fund investors, it is worth it but on a low-cost index funds to consider. So you will travel on to life.
  • with a credit rates of the parent group or the subsidiary Postbank should remind you of your statutory rights. An expensive installment loan, you can always give back and to switch to a cheaper deal. The EU consumer protection.
  • With the current day and Fixed deposits rates of the Bank you do not need to be satisfied. On this side of the 100,000-Euro deposits no risk of loss exists at all. But as in the case of the Bremen town musicians: a Little Better you’ll find anywhere. With better Offers, you can beat the interest rates after the Inflation is currently 0.4 per cent.

The most bitter, it is for the employees, because the can’t change. Maybe it’s worth it for the trade Union and the works Council, but to ask where the billions are. The shareholders do not definitely have to.

24.4 billion euros paid by the German Bank alone, from 2009 to 2015 (especially senior) staff in bonuses. For the excessive years 2006 to 2008, as a single Banker received 80 million Euro Bonus, called the Bank on request. On dividends in any event, the Bank has distributed throughout the period from 2006 to 2015 of almost 5.2 billion euros to its shareholders. to see

where the money has gone.

about The author

  • Hermann-Josef Tenhagen (Born 1963) is editor-in-chief of the “Finanztip”. The online portal is a non-profit. “Finanztip” refinanced through what is called Affiliate Links. Read more here.

    Tenhagen has previously led as editor-in-chief for 15 years, the magazine “financial test”. After his studies of politics and Economics, he began his journalistic career at the “daily newspaper”. He is now the honorary Supervisory Board of the cooperative. In the case of MIRROR ONLINE Tenhagen writes weekly about the right way to deal with your own money.

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