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Deutsche Bank AG

German financial institutions

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Deutsche Bank AG is Germany The largest bank and one of the world's major financial institutions, headquartered in Germany on the Maine River Frankfurt 。

Deutsche Bank, Germany's largest commercial bank, announced on May 19, 2022 local time that Paul Achleitner (Paul Achleiter) Netherlands Of the head of an insurance company Vena Andetz (Alexander Wynaendts), for a term of four years.^[26]

corporate name: Deutsche Bank AG
Foreign name: Deutsche Bank
Industry: finance
Date of establishment: 1870
Headquarters location: Frankfurt
Business scope: financial institution

Company type: limited company
Annual turnover: US $42.3 billion (2018)^[1]
Number of employees: 91737 (2019)^[2]
Official website: https://www.db.com/
Total assets: More than 996 billion marks, about 4200 billion yuan
World ranking: No. 239 of Fortune Global 500 (2019)^[34]
CEO: Christian Sowing

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Company Profile

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Deutsche Bank AG

Deutsche Bank Germany The largest bank and one of the world's major financial institutions, headquartered in the Frankfurt 。 Its shares are owned in Germany exchange To buy and sell, and Paris 、 Vienna 、 Geneva , Basley Amsterdam 、 London 、 Luxembourg , Antwerp and Brussels Equidistant Listing 。 At the end of 1995, Deutsche Bank equity Its shareholders are 286000, from all walks of life. By 2017, the total number of Deutsche Bank Group was 97535, providing services to about 8 million customers, including Countries in the world Individuals, enterprises, government agencies, banks and public institutions. Deutsche Bank has assets of more than 996 billion marks, about RMB More than 4200 billion yuan.

development history

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Deutsche Bank was founded in Germany in 1870 Berlin , and soon established branches in Bremen and Hamburg; In 1872, Shanghai and Yokohama. The branch opened, followed by the London branch in 1873.

In 1876, Germany Bank acquires Deutsche United Bank And the Berlin Banking Association, becoming the largest bank in Germany. Since its establishment, Deutsche Bank has been engaged in the world Large projects Financing plays an important role in the financing of German and overseas industrialization. As early as 1914, Deutsche Bank was recognized as one of the world's leading financial institutions. For more than a century, it has maintained this position in the financial industry.

As of June 30, 1996, it had 1662 branches in Germany and 780 overseas. stay Luxembourg 、 Moscow 、 Madrid 、 London 、 Sydney , Tokyo Paris 、 Brussels , Antwerp, Strasbourg, New York and Hong Kong Canada 、 Switzerland , Australia Argentina 、 Brazil 、 Netherlands 、 Portugal 、 poland 、 Hungary 、 Spain , Japan, the United States Malaysia , India and other countries have branches or subsidiaries.

Deutsche Bank AG

In 1995, Germany The bank has achieved significant development: it has created a new type of bank (24 banks); Deutsche Bank AG Par value of shares Change to 5 mark , launched the "American First Class" of Deutsche Bank's stock in the United States Depositary securities Plan "; buy St. Louis ITT Business finance company (Missouri), and Germany credit Corporate merger , formed Germany Financial Services Company 。 In addition, a company engaged in investment bank Business company - Deutsche Morgan Jianfu; Acquisition of Finance and Futures Limited-- Italy The fifth largest fund management company; Establishment and development Private Banking Deutsche Bank New York trust company 。

As of the end of June 1996 investment bank Branch Deutsche Morgan Jianfu, Deutsche Bank Group Asia Pacific It has 4900 employees and serves more than 70 business offices, mainly in Pakistan To Japan, 18 countries from China to Australia. Established in 1988 Singapore The regional headquarters enables Deutsche Bank to more closely follow the requirements of customers in the Asia Pacific region to formulate Business strategy 。

October 30, 2019, DB. US Q3 Net loss 832 million euros far exceeded expectations.^[14]

On January 30, 2020, the fourth quarter net loss of Deutsche Bank (DB. US), whose performance was worse than expected, expanded to 1.5 billion euros.^[15]

On April 12, 2023, the Financial Times reported that Deutsche Bank was closing the remaining software technology centers in Moscow and St. Petersburg, Russia, according to insiders. It is reported that 500 IT experts have been provided with personal resignation plans.^[28] On April 18, Deutsche Bank issued a statement saying that Karl von Rohr, the president and member of the management committee of Deutsche Bank, had told the board of directors that he would leave when the contract expired at the end of October.^[29] In April, Nick Thursby, head of Credit Suisse Southeast Asia Financial Institutions (FIG), will join Deutsche Bank.^[30] In May, according to foreign media reports, after the profit growth in the first quarter of the report exceeded expectations, Deutsche Bank will cut 800 employees to implement new cost saving measures.^[31] On September 22, the Hong Kong Monetary Authority announced the addition of nine financial institutions as market makers for the bond link "Southbound Link", including Deutsche Bank (Hong Kong Branch).^[35] On October 26, Deutsche Bank Group released its performance in the third quarter of 2023, of which the profit before tax was 1.7 billion euros, up 7% year on year, a new high since 2006.^[36]

In February 2024, Deutsche Bank, the largest bank in Germany, plans to cut 3500 employees, accounting for about 4% of the total global employees of Deutsche Bank.^[38]

On May 28, 2024, according to insiders, Deutsche Bank plans to issue two-year panda bonds and raise 3 billion yuan, which will be the second time this year for the bank Issue Panda Bonds.^[40]

Current leaders

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CEO: Christian Suoying

Co Presidents: Garth Ritchie With Karl von Rohr^[3]

Chairman: Vena Andetz^[25]

Vice President: Carl Feng· Rolle^[24]

Marco Pagliara, General Manager of International Private Bank Emerging Markets^[32]

scope of business

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Deutsche Bank AG

Deutsche Bank is a Universal bank , engaged in commercial banking and investment banking business worldwide, targeting individuals, companies, governments and Public institutions 。 It provides a series of modern financial service Including deposit taking, borrowing Corporate Finance , syndicated loans, securities trading Foreign exchange trading and Derivative financial instruments 。 Deutsche Bank also launched Settlement business , issuing securities, handling letters of credit Guarantee , Bid and Performance Security And arrange financing. International trade financing It is also an important business of the bank, often provided alone or jointly with other syndicates and special financial institutions Long term credit 。 Project financing, transit leasing and others financial instruments The business greatly complements the traditional trade financing. In terms of project financing, Deutsche Bank attaches increasing importance to communication, transportation, energy and infrastructure projects, and Securities issuance Its business is very developed, and it has become one of the most important securities issuing banks in the world world market The issuance of many important bonds and stocks often serves as the lead and co lead.

At the end of December 1995, Deutsche Bank net income Up to 2.12 billion marks, capital and reserve fund About 28043 million marks, total assets It is worth 721.665 billion marks. According to the ranking of the world's largest banks by the famous Banker magazine in 1995, Deutsche Bank is the sixth largest bank in the world. Over the years, Deutsche Bank has been moody's rating Company S&P Ratings The company and IBCA are rated as one of the few AAA banks.

organization structure

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Deutsche Bank AG

Like other German financial institutions, Deutsche Bank is also subject to Banking Law And obey Berlin The Federal Financial Administration. As a joint-stock company, Deutsche Bank has a supervisory committee and a congress to supervise its activities and make recommendations. Its tasks include auditing the annual accounts and approving the Profit distribution Programme. Ten of the 20 members of the Supervisory Committee are elected by shareholder representatives, and the remaining 10 are employees from the bank. The bank shareholders' congress is held in different cities of Germany once a year, which is equivalent to the bank shareholders' parliament. It listens to the business report of the board of directors, decides the distribution of profits, changes in capital and the composition of the board of directors.

Deutsche Bank is headed by the Board of Directors. Its board of directors consists of 12 members. They are jointly responsible for the bank's business policies and their implementation. The Board of Directors is responsible for reporting directly to the Supervisory Board, especially on the Strategic approach Implementation and group business activities. In addition, the Board of Directors shall implement the resolutions of the representative meeting. For a long time, it has formed a tradition that Deutsche Bank has no chairman or president, but a spokesman who is responsible for explaining the resolutions of the board of directors.

To accept others competitor Deutsche Bank has carried out a bold reform and divided its business structure into four departments: Private Banking /Retail Banking, Commercial and Institutional Banking, Investment Banking, Group Services/ Staff 。 Each ministry has a ministerial committee consisting of two Senior management To handle daily business, there are at least two senior executives at the group level as leaders. To control these four Business Department Deutsche Bank Group set up a group committee as the top management organ Business Organization See Figure 1 for the structure.

Chinese market

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Deutsche Bank AG

Deutsche Bank set up a branch in Shanghai as early as 1872. At that time, its business was concentrated on providing services to Import and export business Financing. In 1952, Deutsche Bank restored it and the newly established The People's Republic of China , and Bank of China Established Correspondent bank Relationship. In 1981, Deutsche Bank, as the first German bank, established in Beijing representative office 。 In 1993, its Guangzhou representative office was established and soon upgraded to a branch. In 1995, Shanghai Representative Office was opened. Deutsche Bank Tianjin Branch opened in March 2010. Deutsche Bank has Beijing, Shanghai, Guangzhou Tianjin , Chongqing Qingdao Six branches.

Deutsche Bank Beijing and Shanghai Representative Offices Deutsche Bank and its customers and Chinese banks Non bank financial institutions The company has established and maintained close contact with institutional customers and government departments. Its Guangzhou branch can provide a series of financial products and services of Deutsche Bank for Chinese and international customers.

Deutsche Bank has participated in many large project financing plans in China. For example: provide long-term service for Baoshan Iron and Steel Plant export credit ； As Lead Arranger , for Bank of China in international capital market Issuance of initial bonds of DM 150 million; Led by China International Trust and Investment Corporation Financing 150 million dollars in Europe; As the lead bank, arrange 150 million US dollars overseas financing for Bank of China; As arranger, agent and borrower China Petrochemical Corporation Provide 150 million dollars Syndicated loan ； use Leveraged lease Provide 5 aircrafts worth 300 million dollars for CAAC; For Beijing Lufthansa Centre Provide financing of 240 million dollars and act as the lead bank; Deutsche Morgan Jianfu took the lead in issuing H-shares for Shanghai Haixing Shipbuilding Company, raising 208 million marks.

This Corporate brand stay World Brand Lab (World Brand Lab)《 World Top 500 Brands 》Ranked 243rd in the ranking list, and 68th in the 2006 ranking of the world's top 100 respected companies published by Barron Weekly. In 2007, the enterprise《 wealth 》Ranked 35th among the world's top 500 companies.

In 1995, Shanghai Representative Office was opened.

In 2005, Deutsche Bank and China Huaxia Bank Formation Strategic alliance On the evening of October 31, both parties were in Beijing China World Hotel hold Equity transfer And technical cooperation Ceremony, Deutsche Bank in conjunction with Deutsche Bank Luxembourg Company, Sal Oppenheim Bank Joint contribution RMB 2.6424 billion was used to acquire 587.2 million shares of Huaxia Bank, purchasing price RMB 4.5 per share. On November 10, Chairman of Deutsche Bank Josef Ackermann (Josef Ackermann) and Chairman of Huaxia Bank Liu Haiyan In Germany Berlin The Comprehensive and Long term Strategic Cooperation Agreement was signed to establish a comprehensive and long-term relationship between the two sides Strategic partnership , which will be implemented in asset liability management risk management Small and medium-sized enterprises financial service 、 fund management And capital product research and development Retail Banking , fund business Process reengineering and Science and technology management And other fields. Chinese President Hu Jintao and President of Germany Horst Koehler (Horst Koehler) Signing ceremony 。

In 2005, Deutsche Bank joined hands with China Huaxia Bank

On December 8, 2009, Deutsche Bank (China) Co., Ltd Announced that DB China Tianjin The branch was officially established. Based on the existing branches in Beijing, Shanghai and Guangzhou, Deutsche Bank's business coverage in China will be further expanded through Tianjin Branch. It is reported that Deutsche Bank was approved by China Banking Regulatory Commission to prepare for the establishment of Tianjin Branch in July 2009. The business focus of Tianjin Branch is financial transactions And enterprises banking business , main products and services include enterprises treasurer And cash management products, foreign exchange and Interest rate risk Hedging 、 trade financing , import and export settlement, and provide local sales and customer support services for financial institutions. Chairman of Deutsche Bank Group in China, President of Global Banking Asia Pacific Region Zhang Hongli Said that the establishment of Deutsche Bank Tianjin Branch is the business of Deutsche Bank in North China overlay network Significant extension of; It is also an important step for the network strategic development of DB China Branch. Deng Ning, the general manager of Deutsche Bank in China, said that the branch in Tianjin would be committed to serving Tianjin and Bohai Rim Our customers provide Deutsche Bank's excellent service.

On May 6, 2010, Deutsche Bank once again invested 5.595 billion yuan to acquire 515 million shares of Huaxia Bank, thus directly and indirectly holding 19.99% shares of Huaxia Bank^[4] 。

On April 28, 2011, Deutsche Bank (China) Co., Ltd., the world's top 500 and Germany's largest bank Western China First branch of Chongqing The branch was officially opened, which is also the fifth branch of Deutsche Bank in China. With the acceleration of Chongqing's construction of the Yangtze River Financial Center and the rapid development of the financial industry Value added of financial industry occupy gross domestic product The proportion reached 6.2%, becoming a pillar industry worthy of the name. At the same time, Chongqing is also China Financial ecological environment The best areas, banking One of the regions with the highest profitability. "I hope Deutsche Bank can integrate into Chongqing and take root in Chongqing as soon as possible."

On September 4, 2013, Deutsche Bank (China) Co., Ltd. (Deutsche Bank China) Qingdao Branch officially opened. Qingdao Branch China Banking Regulatory Commission Approved for opening on June 25, 2013, following Beijing Shanghai After Guangzhou, Tianjin and Chongqing, the sixth branch opened by Deutsche Bank China is also the first time for Deutsche Bank China to enter the mainland second-tier cities 。 The newly established Deutsche Bank Qingdao Branch will provide all-round cash management, trade financing and Loan service To meet various needs of enterprises and financial institutions Service Items Including account services, payables and Accounts receivable , liquidity management, loans, foreign exchange and supply chain financial solutions.^[5]

Company Awards

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Deutsche Bank, which is unique in the industry, has relied on unique market insights and innovative Investment philosophy As well as a proper financial plan, it has made outstanding achievements and is widely recognized around the world. These awards and monuments have become the driving force of Deutsche Bank's passionate interpretation and are expected to win more customer satisfaction and praise.

Asian Currency

Best Listing Case: ICBC (601398, Share bar ）$22.2 billion dollar A-share and H-share Same period initial public offering （2006）

The best leveraged financing case: GUM Holding US $181 million five-year senior mortgage Leveraged buyout (LBO) Financing (2006)

Asian risk

Inter bank Trader Survey (2006)

optimum Derivative products Trading bank

Best securities derivatives - Asia (excluding Japan)

optimum Credit derivatives Line - Asia, Japan and Australia

Treasury Magazine

AAA Special Awards (2006)

optimum emerging market Debenture bank

Best Sub Market G3 Bond Bank

Best Securities, Best Initial Public Offering: ICBC $22.2 billion IPO

Eurocurrency

Foreign exchange transaction survey (Fox Poll) (05/2006)

The largest share of foreign exchange trading banks in Asia and the world (2006)

Financial Asia

Achievement Award (2006)

optimum International bonds Line (2006)

Best Stock Related Bank (2006)

Annual best transaction, best securities transaction, best initial public offering, best privatization transaction, best transaction (China): Industrial and Commercial Bank of China $22.2 billion A-share and H-share initial public offering in the same period.

Guojin Comments on Asia

International Financial Review Asia 2006 Review

Best productive conduct (2006)

Best Bond Bank (2006 won this award for two consecutive years)

Related reports

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On May 3, 2011 local time, U.S. Department of Justice Formal prosecution of Deutsche Bank (hereinafter referred to as "Deutsche Bank") Deutsche Bank ）, refers to the bank and its subordinate Mortgage IT companies have repeatedly used fraud to obtain mortgage debt federal insurance commitments and claimed $1 billion. Deutsche Bank was the first mortgage bank to be sued for the False Claims Act. When the credit bubble was near its peak, it purchased Mortgage IT for about 429 million dollars (the transaction was completed in January 2007). Preet Bharara, the prosecutor in charge of prosecution, alleged that the company approved more than 39000 mortgages from 1999 to 2009 Federal Housing Administration (FHA) guaranteed loans in the amount of more than US $5 billion. Deutsche Bank then made a profit by selling these mortgage assets.

However, a Deutsche Bank spokesman denied the allegations.

"Undue diligence" investigation

During 1999-2009, Mortgage IT participated in United States Department of Housing and Urban Development The "Direct Endowment Lender" project of the Federal Housing Administration (FHA) under HUD has the right to grant loans guaranteed by FHA. The project requires participating institutions to carefully approve loans in accordance with the rules of HUD, and a set of mandatory Quality Control (QC).

According to regulations, Secured loans stay Approval Before responsible investigation , understand the borrower's Financial position And the real situation of the transaction property, which is determined by Direct lending Agencies other than FHA or HUD.

However, Preet Bharara, the prosecutor, said that Deutsche Bank seriously violated the project rules, ignoring the requirements on whether the borrower could repay the mortgage loan.

FHA data shows that in 2004, the company approved a Residential loans Among them, there is no Credit record The company did not collect House rent 、 automobile insurance , water, electricity and other payment information to build records for evaluation, but directly approved the loan. As a result, the borrower defaulted six months later.

What's more Texas In a real estate loan, the statements about the borrower's work status in the application materials are inconsistent with each other One time No one found out and questioned that they both worked in Company X and Company Y, and granted the same loan. Within 5 months, the borrower defaults.

Engaged in Real estate agency Some people said that the mistakes in these two cases were "very low-level". In other cases, the buyer's "sponsorship" of the seller's down payment and false reporting of the value of the assets held by the seller may be even less likely to be found.

QC in name only

In 2004, Mortgage IT Company employed external personnel to establish a set of QC (quality control) procedures and review the approved loan cases. Soon, the problem was found and the company was notified by letter. However, these letters were put aside without being opened until the first QC manager of the company found and opened them again after taking up his post in early 2005.

But the problem did not turn around.

The above QC manager tries to establish a system within the company: the selected cases are first submitted to external personnel for preliminary review. If there is any problem, the QC manager will ask the branch department that issued the loan to make an explanation, and then the QC manager will evaluate the problem and report to Management report 。

However, this system has never been successful, and the QC manager often fails to respond to the inquiry of the lending branch, although management layer Complaints, but the situation remains the same.

What is more ridiculous is the company's personnel arrangement in QC procedures. The QC manager mentioned above should have some personnel to assist in the work, but the fact is that he is a bare handed commander. During the period from the first quarter of 2006 to the end of 2009, a government loan Auditors It is the only person in the company who is engaged in QC procedures Also in It was misappropriated for other purposes in 2007.

indictment One case was mentioned in particular. The aforementioned external auditors and the company's QC manager found that the company Michigan A series of default cases of the segment, which are all related to a loan officer and an intermediary, suggest the management to take action. However, it was not until 2006 when HUD discovered and informed the company that the company solved the problem.

Faced with these problems, Company management Over and over again yearly inspection China said that it had corrected the situation, while senior executives repeatedly signed the statement that the company complied with the relevant codes. However, the results were not as good as they claimed, and the problem continued until the company ended operations in 2009.

FHA said that it had paid 386 million dollars in insurance reimbursement and Related costs And there are still 888 million dollars to be paid, and in the future, the amount of compensation may be even greater.

A spokesman of Deutsche Bank said: "We have just received a lawsuit and are discussing it. We believe that the allegations against Mortgage IT and the Bank are unreasonable and unfair." At the same time, the spokesman said that they will raise a defense against this lawsuit.^[6]

Bank honor

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On July 19, 2018《 wealth 》 World Top 500 Deutsche Bank ranked 223 in the ranking.^[16]

In December 2018, World Brand Lab Prepared《 2018 World Top 500 Brands 》Deutsche Bank ranked 260.^[17]

July 2019, released in 2019《 wealth 》World Top 500: ranking 239.^[18]

February 2020, "Global Bank" in 2020 Brand value Deutsche Bank ranked 79th on the Top 500 list.^[19]

On May 13, 2020, Deutsche Bank ranked 542 on the 2020 Forbes Global Enterprise 2000 list.^[20-21]

August 10, 2020, DEUTSCHE BANK Fortune Global 500 in 2020 291.^[22]

In May 2021, Deutsche Bank ranked "2021 Forbes Global 2000 ”Section 310 Bit.^[23]

On August 3, 2022, Ranking of Fortune Global 500 in 2022 According to the announcement, Deutsche Bank ranked 350.^[27]

In August 2023, with a revenue of 42284.9 million US dollars, he was listed in the 2023 Fortune Global 500, ranking 354 。^[33]

In November 2023, it was included in the list of "2023 Global Systemically Important Banks".^[37]

Bank events

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On July 8, 2019, Deutsche Bank (Deutsche Bank) announced a large-scale reduction Investment Banking It is estimated that about 18000 people will be cut globally.^[2]

On September 20, 2020, several media in the United States quoted the information provided by banks to U.S. government Of Confidential He said that in nearly 20 years, many Multinational banks A large amount of illegal funds have been transferred. Belongs to US Treasury Of Financial crime The US Financial Crimes Enforcement Network (FinCEN) leaked more than 2500 documents, most of which were "suspicious activity reports" submitted by major banks to FinCEN from 2000 to 2017. Deutsche Bank is suspected of helping Criminal organization Terrorists and drug dealers launder money.^[1]

On May 18, 2024, according to the website of German news television channel, the Russian court ruled to confiscate the assets of Deutsche Bank.^[39]

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