We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Deutsche Bank (DB) Acquires 15% Stake in Neo Technologies
Read MoreHide Full Article
DWS Group, Deutsche Bank's (DB - Free Report) asset-management unit, has inked an agreement for acquiring 15% equity stake in Dubai-based Neo Technologies, with an aim to offer enhanced services to its clients. The partnership will mark a step forward by the German bank to adopt the new online technology or fintech.
Financial terms of the deal remain undisclosed.
Notably, Dubai and other cities across the Gulf region face intense competition to evolve as emerging fintech providers. Neo Technologies is a provider of technology and consulting services to businesses which are aimed providing digital asset-management services.
Per the terms, through this collaboration, DWS Group and Neo Technologies look forward to develop and expand asset-management services digitally in the Middle East and North Africa region. Notably, DWS Group has assets under management worth 692 billion Euros as of Sep 30, 2018.
"NEO Technologies enables DWS to obtain further presence in a region with high growth rates in asset management," Thorsten Michalik, co-head of DWS' global coverage group, said in a statement.
With growing usage of digital services, this partnership is expected to attract potential customers, who want to make use of such services.
Stress Test Results
In the 2018 Europe’s stress test, Deutsche Bank turned triumphant with stronger capital position as compared with the previous years. Common Equity Tier 1 (CET 1) ratio came in at 13.5% under the EBA’s ‘baseline’ scenario at the end of the stress horizon in 2020, up from 12.1% in the 2016 stress test. In the hypothetical ‘adverse’ scenario, the CET1 ratio is likely to be 8.1%, up from 7.8%.
“The stress test makes clear: Our risk profile is strong, but our profitability is not. This is exactly where our focus is now”, said James von Moltke, chief financial officer. “Despite a more severe adverse scenario than two years ago, we show greater resilience across market, credit and operational risk. We have the liquidity and capital resources to support profitable growth,” Moltke further added.
Deutsche Bank’s shares have depreciated around 16% in the past three months compared with the industry’s decline of 5.4%.
The stock currently carries a Zacks Rank #4 (Sell).
Stocks to Consider
Mizuho Financial Group, Inc. (MFG - Free Report) has been witnessing upward estimate revisions for the past 30 days. Also, the company’s shares have gained nearly 2.7% on the NYSE, in the past two years. It carries a Zacks Rank of 2 (Buy), at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Sumitomo Mitsui Financial Group Inc (SMFG - Free Report) has been witnessing upward estimate revisions for the past 60 days. Additionally, the stock has jumped around 15.3% on the NYSE, over the past two years. The stock flaunts a Zacks Rank of 1, currently.
Credit Agricole SA (CRARY - Free Report) has been witnessing upward estimate revisions for the past 60 days. Further, the company’s shares have gained nearly 23.2% on the NYSE, in the past two years. Currently, it carries a Zacks Rank of 2.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
Image: Bigstock
Deutsche Bank (DB) Acquires 15% Stake in Neo Technologies
DWS Group, Deutsche Bank's (DB - Free Report) asset-management unit, has inked an agreement for acquiring 15% equity stake in Dubai-based Neo Technologies, with an aim to offer enhanced services to its clients. The partnership will mark a step forward by the German bank to adopt the new online technology or fintech.
Financial terms of the deal remain undisclosed.
Notably, Dubai and other cities across the Gulf region face intense competition to evolve as emerging fintech providers. Neo Technologies is a provider of technology and consulting services to businesses which are aimed providing digital asset-management services.
Per the terms, through this collaboration, DWS Group and Neo Technologies look forward to develop and expand asset-management services digitally in the Middle East and North Africa region. Notably, DWS Group has assets under management worth 692 billion Euros as of Sep 30, 2018.
"NEO Technologies enables DWS to obtain further presence in a region with high growth rates in asset management," Thorsten Michalik, co-head of DWS' global coverage group, said in a statement.
With growing usage of digital services, this partnership is expected to attract potential customers, who want to make use of such services.
Stress Test Results
In the 2018 Europe’s stress test, Deutsche Bank turned triumphant with stronger capital position as compared with the previous years. Common Equity Tier 1 (CET 1) ratio came in at 13.5% under the EBA’s ‘baseline’ scenario at the end of the stress horizon in 2020, up from 12.1% in the 2016 stress test. In the hypothetical ‘adverse’ scenario, the CET1 ratio is likely to be 8.1%, up from 7.8%.
“The stress test makes clear: Our risk profile is strong, but our profitability is not. This is exactly where our focus is now”, said James von Moltke, chief financial officer. “Despite a more severe adverse scenario than two years ago, we show greater resilience across market, credit and operational risk. We have the liquidity and capital resources to support profitable growth,” Moltke further added.
Deutsche Bank’s shares have depreciated around 16% in the past three months compared with the industry’s decline of 5.4%.
The stock currently carries a Zacks Rank #4 (Sell).
Stocks to Consider
Mizuho Financial Group, Inc. (MFG - Free Report) has been witnessing upward estimate revisions for the past 30 days. Also, the company’s shares have gained nearly 2.7% on the NYSE, in the past two years. It carries a Zacks Rank of 2 (Buy), at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Sumitomo Mitsui Financial Group Inc (SMFG - Free Report) has been witnessing upward estimate revisions for the past 60 days. Additionally, the stock has jumped around 15.3% on the NYSE, over the past two years. The stock flaunts a Zacks Rank of 1, currently.
Credit Agricole SA (CRARY - Free Report) has been witnessing upward estimate revisions for the past 60 days. Further, the company’s shares have gained nearly 23.2% on the NYSE, in the past two years. Currently, it carries a Zacks Rank of 2.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>