Deutsche Bank AG is considering sweeping changes that could include scaling back or closing operations in some countries as well as overhauling the bank’s executive ranks, according to people familiar with the matter, the Russian daily newspaper Vedomosti reported with reference to The Wall Street Journal. The stock had a trading volume of 2,964,120 shares. Deutsche Bank has a one year low of $27.81 and a one year high of $36.29. The company has a market cap of $39.23 billion and a P/E ratio of 24.59. Norddeutsche Landesbank reaffirmed a “hold” rating on shares of Deutsche Bank in a research note on Saturday, June 20th.
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The bank’s statement was dated September 18. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company’s stock.
Germany’s Deutsche Bank posted a statement on Thursday saying it would close its corporate banking services and securities business in Russian Federation , where it has been hit by sanctions, a downturn and investigations into share trades. The Company diversifies its activities into three group divisions: Corporate & Investment Bank (FRA:DBK); Private Clients and Asset Management (PCAM), and Corporate Investments (CI). GTB delivers services and commercial banking products to financial institutions and corporate customers.
The person said that, a plan to divest Deutsche Postbank, which is Bonn-based and has almost 15,000 employees, is also included in the strategy.
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The progressions come after a troublesome period for Deutsche’s Russian business, which, and additionally needing to adapt to squalls in the neighborhood economy, has go under examination from controllers in the United Kingdom , U.S. and Germany, who are analyzing whether Deutsche’s Russian values arm ruptured hostile to IRS evasion laws.
