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

DEUTSCHE BANK AG

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Deutsche Bank : S&P downgrades outlook for some German banks amid risks for industry

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09/18/2019 | 10:34am EDT
FILE PHOTO: The skyline with its financial district is photographed early evening in Frankfurt

FRANKFURT (Reuters) - The ratings agency Standard & Poor's on Wednesday downgraded the outlooks for a handful of unlisted yet large German banks amid growing risks to the sector.

DekaBank , an important player in the nation's savings bank sector, and DZ Bank , a pillar of Germany's cooperative banks, were among the financial institutions that had their outlooks downgraded to "negative" from "stable".

In its announcement, S&P cited continued drags from poor cost efficiency, risks from technology disruption and low interest rates. A slowing German economy may also hurt banks, S&P said.

Deutsche Apotheker und Aerztebank and DZ HYP, both German cooperative banks, also saw their outlooks downgraded.

The affected banks either declined to comment or did not immediately respond to requests for comment.

Germany's banking sector has struggled to generate profits in recent years because costs are high and competition is fierce, with more than 1,500 lenders serving the nation's 80 million people. Other nations such as France and the U.S. have more concentrated banking sectors.

Deutsche Bank, Germany's largest lender, was unaffected by Wednesday's ratings action. The 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.

(Reporting by Tom Sims and Hans Seidenstuecker; Editing by Michelle Martin)

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Financials (EUR)
Sales 2019 23 825 M
EBIT 2019 -1 713 M
Net income 2019 -5 261 M
Finance 2019 10 342 M
Yield 2019 0,46%
P/E ratio 2019 -3,06x
P/E ratio 2020 72,4x
EV / Sales2019 0,19x
EV / Sales2020 -0,32x
Capitalization 14 841 M
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Mean consensus UNDERPERFORM
Number of Analysts 27
Average target price 6,52  €
Last Close Price 7,19  €
Spread / Highest target 25,2%
Spread / Average Target -9,27%
Spread / Lowest Target -44,3%
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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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