Deutsche Bank Chief Delivers Tough Message on Investment Bank
- Deutsche Bank board to consider paying no dividend for 2015
- Writedowns seen leading to 6.2 billion-euro quarterly loss
No Bonuses, No Dividends From Deutsche Bank
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Deutsche Bank AG’s new boss delivered a harsh message to shareholders and employees: Europe’s biggest investment bank isn’t worth what it once was and can’t pay them what they’re used to.
Co-Chief Executive Officer John Cryan decided to mark down the value of the securities unit because of rules that will force the company to hold more capital, Deutsche Bank said in a statement late Wednesday. Higher equity requirements have hurt profitability.