In a new interview with Bild, the CEO of Deutsche Bank took his time to remind everyone that he presides over the very best bank and that nothing, whatsoever, is wrong with the ongoings at his institution, whose share price has demonstrated a keen ability to both obliterate and eviscerate any and all shareholders — off by a staggering 60% year to fucking date.
“This is not an issue for us.” The manager had also returned reports and speculation about alleged talks with German Chancellor Angela Merkel (CDU) on state aid for the German bank. “I have asked the Chancellor at any time for help. I have indicated like nothing.” Cryan said. He could not understand “how someone can say that.”
Even its shareholders do not want to ask for help of the German Bank CEO. “The question of a capital increase currently does not arise,” said the manager. The Bank met all regulatory capital requirements. They have “far fewer risks in the books than in the past” and was “comfortably equipped with free liquidity”. The CEO described the situation of Deutsche Bank as better than it was currently perceived from the outside. For “much trouble” but have disclosure of the demand of the US Department of Justice provided $ 14 billion, Cryan said. “It was clear from the outset that we will not pay this sum.” He assume “that we the Justice Department in the same fair treatment as the American banks that have been compared.”
When planned reconstruction of the Institute, the manager sees on the right track. When targeted reduction of a total of 9,000 points, the bank was “in the plan. The negotiations with the works councils have been largely completed.” The CEO stressed that he considers the planned sale of Postbank stated: “.. Everything is ready, we could Postbank tomorrow enter into new hands – but then the price has to be right, we have time”
When asked whether there would be a bonus waiver for directors like 2016 again next year, Cryan said: “We’re in a difficult conversion, everyone knows that no one harbors unrealistic expectations..”
Just a few days ago, Deutsche Bank issued a similar statement, suggesting that everything was okay — which harkened back to an era not to long ago when assholes ran their mouths just before the entire kit and kaboodle went kaput.
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Don’t be a DB, buy DB today!
You just can’t take at face value anything they say. During the 2008 financial crisis we were reassured by experts and banking officials that everything was fine. Hopefully it turns out well but I’m not going to gamble on it.
Market looking very jittery lately. Down big one day, up big the next, and then back down and up again. Looks to me like we have another leg down before the election. Time to short the rips IMO.
Once confidence is lost, it’s game over as clients pull their money out unless the government or central bank steps in. The fact that the guy has to come forward and say everything is okay is a clear sign that everything is not okay. If everything was truly okay, he wouldn’t need to say jack shit.
Lehman replay.
Yo! Population!:
You rightfully put journalists/media/politicians/lawyers at the bottom of trustworthy in single digits.
You forget: Bankers. Bankers should be ### ONE at ZERO. Are you kidding?
The banker class is once again close to fooling you all over again
Dude. The banksters are the only players left. It is the permanent Titanic stuck stern up. Interesting conundrum when there is no one to sell to but as well no one to sell. It is a giant clusterbomb waiting for some youth to step on it but they have no money.
how long can the market last on dumb money ( CB’s, 401k and corp buy back ) two years apparently.
Was this clown the former Iraq Information Minister? De Iraqi Army has total control of the airport and are pushing the infidels back to hell!
When asked whether there would be a bonus waiver for directors like 2016 again next year, Cryan said: “We’re in a difficult conversion, everyone knows that no one harbors unrealistic expectations..”
Key takeaway for me. The quarter is about to end and those bastards are just trying to secure those bonuses before they go tits up. Define unrealistic expectations?