The report in full you can find here and for my previous summary of the DB annual report 2016 then please click on that link and to find out more about DB then visit DB analysis 2017.
The C/I is improving and was now at 93.4% and once again for the third year in a row they published a loss. This time it was-751 million €. So one can pretty much conclude that the C/I is meaningless to follow for DB since it has no meaning in terms of them starting to have some earnings. If we look at the income statement below then we see that their interest income decreased one step further 24 billion compared to 25.6 billion that they received last year. same trend as with Coba. I truly wonder what the German banks are up to. The CEO has now been forced out and we are back to having a German CEO that have spent his entire life in DB. I have mixed emotions about this and in my opinion it is time for the chairman to throw in the towel. I am generally chocked that they have not managed to remove more full time employees from DB it is almost as if it is a governmental institution. In general I am against massive workforce cuts but in the case of DB I suspect this should have been done directly when the financial crisis hit almost 10 years ago.
Conclusion: DB is still performing very poorly. Their internal hire of the new CEO feels like grasping for a needle in a haystack. It is time for the chairman to go and I will remain as a grumpy shareholder, by now, for the sixth year in a row.
No comments:
Post a Comment