Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Xetra  >  Deutsche Bank    DBK   DE0005140008

DEUTSCHE BANK (DBK)
Mes dernières consult.
Most popular
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

Deutsche Bank taps ECB cash for Italy, Spain ops

share with twitter share with LinkedIn share with facebook
share via e-mail
0
03/09/2012 | 12:33pm CEST
A visitor walks past the bank's logo prior to Deutsche Bank's annual news conference in Frankfurt

Germany's biggest bank, Deutsche Bank (>> Deutsche Bank AG), took 5 billion -10 billion euros ($6.6 billion - $13.3 billion) from the European Central Bank, a source said on Friday, after boss Josef Ackermann signaled last month the bank may take advantage of cheap loans.

Germany's biggest bank, Deutsche Bank (>> Deutsche Bank AG), took 5 billion -10 billion euros ($6.6 billion - $13.3 billion) from the European Central Bank, a source said on Friday, after boss Josef Ackermann signaled last month the bank may take advantage of cheap loans.

The bank tapped the ECB's long-term refinancing operation -- aimed at propping up Europe's banking system -- as a means of pumping cash into their operations in Italy and Spain, said the source, who has direct knowledge of the matter.

Deutsche Bank declined to comment.

In early February, chief executive Ackermann said Deutsche had not taken part in an earlier ECB tender but signaled the lender could take advantage of future offers for cheap cash if it was economically sensible to do so.

Germany's second biggest lender Commerzbank (>> Commerzbank AG) took a single digit billion euros amount, a source close to that bank said on Friday. Commerzbank declined to comment.

The move marks a more pragmatic approach toward receiving cheap cash from the European Central Bank, mirroring a change of attitude by rival Barclays (>> Barclays PLC) which had initially said it would not take the money to avoid the stigma of needing cash.

Tapping the central bank for loans is currently cheaper than refinancing on commercial markets, and helps to avoid a mismatch between loans and deposits at operations in countries hit by an economic slowdown.

A total of 800 banks borrowed money in the ECB's latest liquidity operation, fuelling expectations that credit will flow to businesses and borrowing costs will ease for governments hit by the euro zone crisis.

In the first long-term refinancing operation Commerzbank's mortgage unit Eurohypo <EUROHY.UL> took roughly 10 billion euros, a separate source said last month.

European Central Bank president Mario Draghi said 460 German banks participated in the most recent LTRO. Around 42 billion euros was taken to fund operations in Germany, according to Reuters calculations.

Germany has 2,000 banks, while Britain has just 405, Spain 415, Italy 785, Ireland 590 and France 1,147, according to ECB statistics.

The Financial Times newspaper also reported on Friday that Deutsche Bank had taken advantage of the ECB's LTRO scheme.

($1 = 0.7534 euros)

(Editing by Sophie Walker)

By Edward Taylor and Arno Schuetze

Stocks treated in this article : Barclays PLC, Commerzbank AG, Deutsche Bank AG
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on DEUTSCHE BANK
06:18p European stocks hold firm as banks, Spanish shares fall
09:35a DEUTSCHE BANK : hires Asia tech investment banking head from StanC
10/20 Factbox - Impact on banks from Britain's vote to leave the EU
10/19 DEUTSCHE BANK : KunstHalle Presents the Pioneering Modernist Fahrelnissa Zeid
10/18 DEUTSCHE BANK : asks lenders to pitch for float of asset management business
10/17 DEUTSCHE BANK : asks banks to pitch for asset management IPO - sources
10/17 LSE chief says shift in euro clearing would bump up costs
10/17 DEUTSCHE BANK : Libor Payouts Will Never End But On The Bright Side Banks Hardly..
10/16 DEUTSCHE BANK : QuisLex COO Sirisha Gummaregula to Moderate Panel on Use of Arti..
10/16 DEUTSCHE BANK : Innovation and renovation - the India opportunity
More news
News from SeekingAlpha
10/17 My Bet? Canadian Banks
10/13 Deutsche Bank, Citi, HSBC agree to $132M settlement in Libor scandal
10/12 IFRS9 : What Banks shareholders should know
10/11 BANK OF AMERICA : What Divisions Need To Outperform To Drive Earnings Higher
10/09 Citigroup's CFO Talks Buybacks, Dividends And Trading Revenue
Financials (€)
Sales 2017 28 144 M
EBIT 2017 3 961 M
Net income 2017 1 211 M
Debt 2017 -
Yield 2017 0,86%
P/E ratio 2017 17,93
P/E ratio 2018 10,51
Capi. / Sales 2017 1,06x
Capi. / Sales 2018 1,02x
Capitalization 29 762 M
Chart DEUTSCHE BANK
Duration : Period :
Deutsche Bank Technical Analysis Chart | DBK | DE0005140008 | 4-Traders
Technical analysis trends DEUTSCHE BANK
Short TermMid-TermLong Term
TrendsNeutralBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 30
Average target price 14,8 €
Spread / Average Target 3,1%
EPS Revisions
Managers
NameTitle
John Cryan Chief Executive Officer
Christian Sewing Co-President & Co-Head-Private Bank
Marcus Schenck Co-President & Co-Head-Investment Bank
Paul Achleitner Chairman-Supervisory Board
Kimberly L. Hammonds Chief Operations Officer
Sector and Competitors
1st jan.Capitalization (M$)
DEUTSCHE BANK-6.53%35 068
JP MORGAN CHASE & COMPANY15.32%350 172
INDUSTRIAL AND COMMRCL BANK OF CHINA LTD41.50%324 236
BANK OF AMERICA22.94%286 659
WELLS FARGO-0.34%270 639
CHINA CONSTRUCTION BANK CORPORATION34.01%239 293