once Again a billion-dollar loss, he falls to but slightly smaller than 2015
The German Bank a further year of Restructuring. Below-the-line stand in 2016, a loss of 1.4 billion euros, because of the tag, and a number of large litigation oppressed again on the balance sheet.
Deutsche Bank has completed the 2016 financial year with a loss of billions: The Minus amounted to around EUR 1.4 billion, as the largest German Bank in Frankfurt on Thursday announced on Main. 2015 was run up because of the ongoing group restructuring is still a record loss of 6.8 billion euros. Legal disputes and the conversion of the money house, the brakes of the group.
in Spite of the better results in the past year, disappointed Germany’s largest money house analysts. They had only expected a loss of 668 million euros. The main reason for the new amount of the deficit of billions in mortgage comparison, in the USA. Before taxes, the Minus amounted to 0.8 billion Euro.
“reflect Our results of the year 2016 for both the systematic reorganisation of the Bank as well as the market turmoil around our house,” said group chief John Cryan to pay the year. He referred to the good capital and liquidity position of the group. The Deutsche Bank stock Chart to show had for the past year, a core capital ratio of 11.9 percent – the highest in twelve quarters. The rate is one of the most important figures in the world of banking. It shows the extent to which the risk positions are covered due to own resources, as well a money house, therefore, losses can absorb.
as positive as Cryans words sound – Bank-in-chief has been a horror year behind. At the end of September, the share price of the institution had fallen to the lowest level in the company’s history. There were even rumors of a possible Bankruptcy of the house on the financial markets. Since then, the situation relaxed. Now the boss is standing in front of the Bank an even more formidable task: Cryan has to give the money to the house a new sense.
The income for the full year were € 30 billion, however, ten percent lower than in the previous year. The reason for this difficult market for banks were mainly due to the persistently low interest rates and the restructuring of the Institute. The adjusted costs could reduce the company, however, in comparison, only six per cent to 24.7 billion euros. To 2018, the Bank’s chief Cryan wants to press the sum of 22 billion euros.
legal fees to press the result
The most recent settlements in key disputes reflected in the result for the fourth quarter and oppressed it is before taxes was EUR 1.6 billion. Bank chief Cryan had recently cleaned up with a legal Legacy. In mid-January, Deutsche Bank reached a settlement with the U.S. Department of justice, and thus laid the years of smoldering scandal of dubious mortgage transactions. 3.1 billion Dollar fine, payable by the Bank. Add to this the compensation for US customers in the amount of 4.1 billion dollars, which will be distributed over the next five years.
In addition, the company reached a partial agreement with the Supervisory authorities in the Russian money-laundering affair. More than 600 million dollars in the Bank costs of the Deal with two authorities in the USA and the UK. The U.S. Department of justice determined, however, against the group.
employees need to feel suffering
the crisis in The German Bank to get the employees in the own purse. The company reduced the expenditure for salaries and bonuses last year to 1.1 billion to 11.7 billion euros. The decrease was primarily due to a decline in performance-related payments.
Already the middle of January the Bank had explained that for 2016, alongside the Executive Board, the rest of the upper and middle-level managers on performance bonuses. The number of employees fell last year – despite the announcement of large job losses only slightly. The number of full-time jobs fell by 1360 on 99.744.