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

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

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
06/23 DEUTSCHE BANK : Democrats Confident Deutsche Bank Will Relinquish Trump Loan Doc..
06/23 DEUTSCHE BANK : Executive moves
06/22 DEUTSCHE BANK : U.S. Bank Announces Kevin Weeks as Head of Global Sales for Corp..
06/22 COMMITTEE DEMS TO DEUTSCHE BANK : Do Not Withhold Information from Congress on T..
06/22 DEUTSCHE BANK : sets up corporate finance advisory services for small and medium..
06/20 AB InBev kicks off sale of German beers Hasseroeder and Diebels - sources
06/20 DEUTSCHE BANK : DB-New report showcases benefits of bringing autistic people int..
06/17 German shares gain 0.48 pct Friday
06/16 German shares gain 0.32% Wednesday
06/16 DEUTSCHE BANK : Makoto Kuwahara discusses inclusive leadership and diversity wit..
More news
Sector news : Banks - NEC
06/24 BARCLAYS AFRICA : South Africa anti-graft chief open to talks on central bank - ..
06/23 INTESA SANPAOLO : Italy to pass emergency decree on Veneto banks after EU green ..
06/23 Goldman Sachs global head of equity markets to retire
06/23 LLOYDS BANKING : Bank of England financial crisis liquidity auctions cleared by ..
06/23 CANADIAN IMPERIAL BANK OF COMMERCE : Canada's CIBC completes $5 billion PrivateB..
More sector news : Banks - NEC
News from SeekingAlpha
06/22 Big Cuts Are Coming To Sell-Side Research
06/22 Here come the Fed's stress tests
06/19 UBS Is A Good Play For DGI
06/16 DEUTSCHE BANK : Why I'm Remaining Long After Recent Weakness
06/15 WALL STREET BREAKFAST : Central Bank Fun Day
Advertisement
Financials (€)
Sales 2017 29 086 M
EBIT 2017 3 644 M
Net income 2017 1 345 M
Debt 2017 -
Yield 2017 0,83%
P/E ratio 2017 21,54
P/E ratio 2018 10,27
Capi. / Sales 2017 1,06x
Capi. / Sales 2018 1,04x
Capitalization 30 795 M
More Financials
Chart DEUTSCHE BANK
Duration : Period :
Deutsche Bank Technical Analysis Chart | DBK | DE0005140008 | 4-Traders
Full-screen chart
Technical analysis trends DEUTSCHE BANK
Short TermMid-TermLong Term
TrendsBearishBearishBullish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 30
Average target price 16,0 €
Spread / Average Target 7,5%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
John Cryan Chief Executive Officer
Paul Achleitner Chairman-Supervisory Board
Kimberly L. Hammonds Chief Operations Officer
Marcus Schenck Chief Financial Officer & Deputy CEO
Pascal Boillat Group Chief Information Officer
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
DEUTSCHE BANK-3.29%34 438
JP MORGAN CHASE & COMP..0.66%308 597
WELLS FARGO-4.83%262 109
INDUSTRIAL AND COMMRCL..16.55%260 628
BANK OF AMERICA3.26%227 102
CHINA CONSTRUCTION BAN..16.18%212 644
More Results