The merger speculation by Deutsche Bank to hold. Now also the Swiss UBS is next to the Commerzbank in focus. But the German is at all attractive?
The management Board of Deutsche Bank has been working for some time been circulating on the merger speculation to downplay. Their CFO is James von Moltke said Wednesday at an investor conference in London, the Board was astonished, “in these days of constant about it, what comes through the editorial Filter and in the press.” The occasion of a report of the “Handelsblatt”. Thereafter, the Board of Directors of the Bank have to go along at its strategy conference in the middle of the month, both with Commerzbank, as well as with the UBS.
Federal Finance Minister Olaf Scholz had spoken at a banking conference a month ago for a “strong national Champion”. The happy German Bank chief Christian Sewing, of course. “We are a global Bank with customers on all continents and have a special responsibility for our home market,” he said at a conference in Düsseldorf. But on Tuesday, he had referred to the “day of German industry” in Berlin, the Deutsche Bank had to first clean up their own house before they could think about mergers. The Commerzbank but as a possible merger partner, he had not excluded because, at least in the longer term.
Two Sick people together make a Healthy
Economically Dieter Hein from the independent analysis of the home fair search does not recognize any advantage: “Both of them have both problems at the strategy as well as profitability.” Commerzbank had made between 2008 and 2017, no gain, Deutsche Bank in the last three fiscal years, even nine-billion-Euro loss. With a go together at most costs could be saved, because it has dual functions have to be mined. The middle of the year, Deutsche Bank employees 95.400 employees, Commerzbank is just 48.800.
Since the beginning of the week after 30 years in the Dax listed: Commerzbank
A merger or rather a Takeover is likely to lead to a “bloodbath,” as Commerzbank employees called this Vision two years ago. Because the idea of a merger of the two large private German banks, is always played by. After the fears of the employees, a five-digit number of jobs would then be at the Dump. This could be the Bank’s major shareholder, the Federal government, not politically right. To go together to urge the money houses.also, no one – other than the Commerzbank, where the Federal government still holds a 15 percent stake, has at the German Bank has no influence
Deutsche, UBS does not fit well
“An Acquisition makes no sense,” says according to Dirk shooting, stretching, banking Professor at the Technical University of Darmstadt. You could possibly transfer the customer to the platform of the German Bank and the Commerzbank close, he plays a theoretical possibility. Strategically, however, this would not bring the Deutsche Bank. “One gets the impression that the German Bank choose with whom you want to merge,” he wonders. It was rather Vice versa.
It is not obvious to most observers also why the Swiss UBS should, of all things, together with Deutsche Bank. Since the different law first of all, the situation in the European Union and in Switzerland. But not only that: “UBS is differently positioned, and it plays in a different League,” says also various stretching.
Alone in the first half of the year, Swiss generated a profit before tax of the equivalent of a good 3.2 billion euros, the German Bank for 1.1 billion euros. The UBS is on the stock exchange with € 54 billion, more than twice the value of the Deutsche Bank with € 22 billion. “That would be no merger but a Takeover,” said fairesearch Analyst Hein. Whether that would be the German policy right, which is doubtful. “UBS and Deutsche Bank are complementary from the business model,” says Klaus Nieding of the German protection Association for securities holding (DSW). But to assume whether or not UBS could in fact be ready to the German Bank in its current Constitution, “I think, especially where this is now under the Supervision of the Bafin”.
Axel Weber, formerly head of the Bundesbank, now the President of the Board of Directors of UBS
The lords Blessing and Weber
The German financial services Supervisory authority announced this week that it installed for at least three years, a special Keeper in the German Bank that it supervises in the area of money laundering and terrorism financing in the investment banking area. The Swiss have concentrated after the financial crisis on the international asset management and investment banking is significantly reduced. “UBS does not want to expand their investment banking business,” Dieter Hein from the independent analysis of the home fair search convinced. “Why should you bring new risks into the house?”
The are also likely to be the two Germans at the top of UBS is clear: the Board President, Axel Weber, the former Bundesbank President, head of asset management division, Martin Blessing, the former head of Commerzbank.