A spokesman for Deutsche Bank issued a bunch of meaningless statements today, in an effort to quell fears that Europe’s largest bank is about to go kaput. All of this is reminiscent of the 2008 financial crisis when one asshole after the next reminded us that ‘everything was fine’ and ‘there was no need for new capital’. More often than not, the very next day they’d file an offering. It was egregious.
I find is hard to believe that DB won’t raise capital, considering their balance sheet structure and $8b shortfall to cover legal settlements with the US.
“John Cryan at no point asked the German Chancellor for the government to intervene in the U.S. Justice Department’s mortgages case,” a Deutsche Bank spokesman said, adding that the bank would meet its challenges on its own.
“There is currently no question of a capital increase. We are meeting all regulatory requirements,” the spokesman said.
In a separate television interview, the spokesman stressed what he said were Deutsche Bank’s strong credit portfolio and liquidity, and low value-at-risk.
“The third quarter is almost over and I can tell you today we are fine and very comfortable here,” he told CNBC.
Mediobanca said a rights issue looked inevitable.
“John Cryan always said that a rights issue would only be triggered by a larger-than expected litigation charge and it appears increasingly likely that Deutsche Bank investors will be asked to post bail for Deutsche’s past crimes,” Mediobanca analysts said in a note to clients.
The market isn’t buying it and has sided with the Mediobanca analyst instead.
Deutsche Bank has a market cap of $18b and a balance sheet of $1.8t.
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$FCX needs to roll over and die
But oil shoot through the roof
Maybe they can figure out a creative way to get all their employees to transfer money into their accounts?
That picture made me laugh out loud. That dude was funny
flush that douche bank down the toilet and start the cleansing of wall st.
Commerzbank is ready to burn it down.
http://www.zerohedge.com/news/2016-09-26/germany-other-bank-commerzbank-fire-9000-18-its-entire-workforce