Well, no surprises here. The renowned banking institution has achieved special status among its peer group: its stock price has reached a new low: E6.65. The annual shareholders meeting is scheduled for Thursday of this week in Frankfurt, Germany. UBS Group AG analysts downgraded the stock to "sell" from "neutral", citing a lack of strategic options and that the investment bank "has been losing revenues in absolute and relative terms."
Share holder advisory firms have urged investors to " punish" the bank's top executives en masse by withholding confidence votes from the two main boards. Bank executives have been meeting with investors recently trying to persuade them that recent changes have been made to improve performance across the board. critics have commented that such moves have not been anything more than changes on the edges. Furthermore, recent allegations of money laundering in Europe has tainted the entire banking sector, going back to revelations concerning Dansk Bank and one of its Estonian branches that has laundered funds from Russyan sources on a daily basis for years before a whistle blower from the UK finally got someone to listen about the activities of this tiny branch that was channeling $250 millions PER DAY through its branch. Hmmmm. Bankers: gotta love 'em.
Germany's biggest lender by assets, Deutsche Bank, has improves a bit: in 2018, it recorded a profit for the first time since 2014. The investment bank section of Deutsche has not been very profitable as contributions from the section has been in steady decline for years. Maybe it's time for a thorough housecleaning from top to bottom. Maybe it's time to scrutinize executive pay packages: really-does an individual really "earn" E8.6 millions?
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