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Deutsche (DB) to Shift Large Portion of Assets From London
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Deutsche Bank (DB - Free Report) is planning to transfer a large chunk of assets from its London base to Frankfurt headquarters post Brexit, per an article by Financial Times. Though no final decision on the size of asset to be moved is taken yet, Deutsche is likely to trim its balance sheet by about 75%.
The bank is facing rising pressure from the European regulators regarding the size and complexity of its U.K. operations after Brexit. Overseas lenders will be required to comply with the rule for U.K. branches, as it will become a third country when it leaves the European Union.
Citing people familiar with the matter, Financial Times reported that Deutsche might transform its U.K. base into a ringfenced subsidiary following Brexit. This might not greatly impact the number of employees in London operations. However, it would still have an impact on London, which has been witnessing many overseas banks moving operations to other areas as a Brexit woe.
Another option being examined by Deutsche is to shrink the size of the London balance sheet to a level below its U.S. holding company.
With a few months left for Britain’s exit from the European Union, many other global banks are making alternate arrangements to ensure business continuity post-Brexit. Paris, Frankfurt and Dublin seem to be the most preferred choices for the companies to make such transitions. Bank of America Corp. (BAC - Free Report) , JPMorgan Chase & Co. (JPM - Free Report) and HSBC Holdings (HSBC - Free Report) are also making similar moves.
Deutsche has made a remarkable progress in restructuring initiatives so far, which keeps us encouraged. However, concerns over persistent pressure on revenues due to low interest rates in the domestic economy along with involvement in several legal issues have resulted in the company losing 26.6% on the NYSE over the past six months compared with 14% decline of the industry.
Zacks Research has released a report that may shock many investors. One stock stands out as the best way to invest in the surge to electric cars. And it's not the one you may think!
Much like petroleum 150 years ago, lithium battery power is set to shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge. With battery prices plummeting and charging stations set to multiply, revenues that were already at $31 billion in 2016 are expected to blast to over $67 billion by the end of 2022.
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Deutsche (DB) to Shift Large Portion of Assets From London
Deutsche Bank (DB - Free Report) is planning to transfer a large chunk of assets from its London base to Frankfurt headquarters post Brexit, per an article by Financial Times. Though no final decision on the size of asset to be moved is taken yet, Deutsche is likely to trim its balance sheet by about 75%.
The bank is facing rising pressure from the European regulators regarding the size and complexity of its U.K. operations after Brexit. Overseas lenders will be required to comply with the rule for U.K. branches, as it will become a third country when it leaves the European Union.
Citing people familiar with the matter, Financial Times reported that Deutsche might transform its U.K. base into a ringfenced subsidiary following Brexit. This might not greatly impact the number of employees in London operations. However, it would still have an impact on London, which has been witnessing many overseas banks moving operations to other areas as a Brexit woe.
Another option being examined by Deutsche is to shrink the size of the London balance sheet to a level below its U.S. holding company.
With a few months left for Britain’s exit from the European Union, many other global banks are making alternate arrangements to ensure business continuity post-Brexit. Paris, Frankfurt and Dublin seem to be the most preferred choices for the companies to make such transitions. Bank of America Corp. (BAC - Free Report) , JPMorgan Chase & Co. (JPM - Free Report) and HSBC Holdings (HSBC - Free Report) are also making similar moves.
Deutsche has made a remarkable progress in restructuring initiatives so far, which keeps us encouraged. However, concerns over persistent pressure on revenues due to low interest rates in the domestic economy along with involvement in several legal issues have resulted in the company losing 26.6% on the NYSE over the past six months compared with 14% decline of the industry.
Currently, the stock has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Best Electric Car Stock? You'll Never Guess It.
Zacks Research has released a report that may shock many investors. One stock stands out as the best way to invest in the surge to electric cars. And it's not the one you may think!
Much like petroleum 150 years ago, lithium battery power is set to shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge. With battery prices plummeting and charging stations set to multiply, revenues that were already at $31 billion in 2016 are expected to blast to over $67 billion by the end of 2022.
See Zacks Best EV Stock Free >>