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MarketScreener Homepage  >  Equities  >  Xetra  >  Deutsche Bank AG    DBK   DE0005140008

DEUTSCHE BANK AG

(DBK)
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Deutsche Bank : ECB weighs investigating Deutsche Bank over alleged unauthorised bond purchases - sources

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09/18/2019 | 07:58am EDT
FILE PHOTO: The logo of Deutsche bank is seen in Hong Kong

FRANKFURT (Reuters) - The European Central Bank is examining whether to open a formal investigation into Deutsche Bank for allegedly buying some of its own securities without authorisation, two people familiar with the matter said on Wednesday.

The alleged offence, which could result in a fine if the bank is found to have broken rules, comes as Germany's biggest lender tries to improve its reputation with investors and relationship with regulators after years of misdeeds.

Deutsche Bank and the ECB declined to comment. The Sueddeutsche Zeitung first reported the news.

The securities at issue are known as AT1 and AT2 bonds.

The bonds, which emerged after the financial crisis, are designed to protect taxpayers from potential bailout costs if a bank runs into hardship by putting the risk in the hands of the holders of the bonds.

But it may defeat the purpose if the bank holds the bonds, which is why the ECB requires a bank to seek its authorisation to do so.

Deutsche Bank sought authorisation in 2014 for the purchase of the bonds, but it was denied, the people said. The lender continued to buy them anyway, in an attempt to create a liquid market, one of the people said.

The ECB eventually authorised Deutsche Bank to buy the bonds in 2017, but the ruling wasn't retroactive.

The ECB is now in a fact-finding phase to determine whether it should open a formal investigation, the people said.

Deutsche Bank is in the midst of a broad restructuring, involving job cuts and the exit of certain business lines in an effort to become profitable.

Its Chief Executive Officer, Christian Sewing, recently criticized the ECB for its interest rate policy.

(Reporting by Tom Sims and Patricia Uhlig; Editing by Mark Potter)

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Financials (EUR)
Sales 2019 24 047 M
EBIT 2019 -1 665 M
Net income 2019 -5 317 M
Finance 2019 10 342 M
Yield 2019 0,46%
P/E ratio 2019 -2,97x
P/E ratio 2020 42,3x
EV / Sales2019 0,18x
EV / Sales2020 -0,32x
Capitalization 14 645 M
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Mean consensus UNDERPERFORM
Number of Analysts 27
Average target price 6,51  €
Last Close Price 7,09  €
Spread / Highest target 26,9%
Spread / Average Target -8,16%
Spread / Lowest Target -43,6%
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Managers
NameTitle
Christian Sewing Chief Executive Officer
Karl von Rohr President
Paul Achleitner Chairman-Supervisory Board
Frank Kuhnke Chief Operations Officer
James von Moltke Chief Financial Officer
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