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なぜドイツ銀行は破綻寸前に?従業員の2割(1.8万人)リストラ、株式売買業務から撤退へ=児島康孝

巨額損失を前に立ち往生か?

繰り返しになりますが、ドイツ銀行に関しては、しきりに「低金利の長期化」という話が出てきます。

ですから、これは国債の「売り」ポジションを大量に抱えて、立ち往生しているのではないか?という見方をすることができます。

実際、どういうポジションかは、手の内を明かさないので、わからないわけですが。

<ドイツ銀行の発表文>

Deutsche Bank outlines significant strategic transformation and restructuring plans

Frankfurt am Main, 7 July 2019, 4.29 PM – As part of its ongoing commitment to improve long-term profitability and returns to shareholders, Deutsche Bank’s Management Board announces a series of measures to restructure the bank’s operations. These measures include:

The exit of Global Equities and a significant reduction in Corporate and Investment Banking risk weighted assets

Deutsche Bank will exit its Equities Sales & Trading business, while retaining a focused equity capital markets operation. In addition, the bank plans to resize its Fixed Income operations in particular its Rates business and will accelerate the wind-down of its existing non-strategic portfolio.

In aggregate, Deutsche Bank will reduce risk-weighted assets currently allocated to these businesses by approximately 40%.

The bank will create a new Capital Release Unit to manage the efficient wind-down of the assets related to business activities, which are being exited or reduced. These assets and businesses represented EUR 74 billion of risk-weighted assets and EUR 288 billion of leverage exposure, as of 31 December 2018.

These actions are designed to allow Deutsche Bank to focus on and invest in its core, market leading businesses of Corporate Banking, Financing, Foreign Exchange, Origination & Advisory, Private Banking, and Asset Management.

A significant restructuring of businesses and infrastructure

Deutsche Bank will implement a cost reduction program designed to reduce adjusted costs to EUR 17 billion in 2022 and is targeting a cost income ratio of 70% in that year.

To facilitate its restructuring, Deutsche Bank expects to take approximately EUR 3 billion of aggregate charges in the second quarter of 2019, of which approximately EUR 0.2 billion would impact Common Equity Tier 1 capital.

These charges include a Deferred Tax Asset write-down of approximately EUR 2 billion and impairments of approximately EUR 0.9 billion. Additional restructuring charges are expected in the second half of 2019 and subsequent years.

In aggregate, Deutsche Bank currently expects cumulative charges of EUR 7.4 billion by the end of 2022.

Managing the transformation through existing resources

Deutsche Bank management intends to fund its transformation from its existing resources without requiring additional capital.

This reflects the bank’s current strong capital position as well as management’s confidence in the high quality and low risk nature of the assets, which it is exiting. In connection with these decisions,

the Management Board intends to recommend no common equity dividend be paid for the financial years 2019 and 2020. The bank expects to have capacity for payments on additional tier 1 securities throughout the transformation phase.

Updated capital and leverage targets

The Management Board believes that the future business mix is consistent with a lower capital requirement.

After consultation with the bank’s regulators, the bank now intends to operate with a minimum CET1 ratio of 12.5% going forward. As a result of the significant deleveraging actions,

the bank targets a fully-loaded leverage ratio of 4.5% by the end of 2020 rising to approximately 5% by 2022.

Preliminary Second Quarter Results

Including the charges related to the restructuring described above, Deutsche Bank expects to report a second quarter 2019 loss before income taxes of approximately EUR 500 million and a net loss of EUR 2.8 billion.

Excluding these charges, Deutsche Bank expects to report second quarter 2019 income before income taxes of approximately EUR 400 million and net profit of EUR 120 million.

Results reflect revenues of EUR 6.2 billion with noninterest expenses of EUR 5.6 billion and adjusted costs of EUR 5.35 billion.

The bank intends to release second quarter results on 24 July 2019.

Note: Divisional figures in this document showing the pro-forma effect of resegmentation are unaudited and preliminary and subject to change.

出典:Ad-hoc Release – Deutsche Bank(2019年7月7日配信)

ドイツ銀行の発表に対して、マーケットの受け止めはどうなるでしょうか。

有料メルマガ好評配信中!初月無料です

【関連】ドイツ銀行に公的資金投入で国家ごと沈む?嘘つきメルケルが恐れるドイツ発の世界大恐慌=今市太郎

【関連】損保ジャパン4000人削減で最悪の労働搾取モデルが完成。業務自動化で年収250万減へ=今市太郎

【関連】失業者を「引きこもり」と呼ぶ日本、政策失敗を個人の資質問題にすり替えている=児島康孝

【関連】ファーウェイは死んでも潰さない。一般人が悪びれもせず知的財産を盗む中国の恐ろしさ=鈴木傾城

<初月無料購読ですぐ読める! 7月配信済みバックナンバー>

※2019年7月中に初月無料の定期購読手続きを完了すると、以下の号がすぐに届きます。

・ブルーエンジェルスの編隊飛行も。アメリカ独立記念日は、近年にない盛り上がり(7/5)
→いますぐ初月無料購読!

image by:Slava2009 / Shutterstock.com

有料メルマガ『「ニューヨーク1本勝負、きょうのニュースはコレ!」連動メルマガ』好評配信中。ご興味をお持ちの方はぜひこの機会にバックナンバー含め今月分すべて無料のお試し購読をどうぞ。

【関連】なぜ日本人は社畜を続ける?違法な時間外労働、約半数が過労死ライン超え=鈴木傾城

【関連】「食の安全」は崩壊へ。ついに日本の農業を米国に売り渡す密約を交わした安倍政権

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「ニューヨーク1本勝負、きょうのニュースはコレ!」連動メルマガ』(2019年7月8日号)より抜粋、再構成
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