Deutsche Bank to Raise $8.5 Billion Amidst Financial Turmoil

“Deutsche Bank is the World’s Riskiest Bank.”

– IMF

Last year the International Monetary Fund said that Deutsche Bank “is the riskiest financial institution in the world as a potential source of external shocks to the financial system.”
Now, Germany’s biggest bank is asking investors for $8.5 billion to help improve its financial health, after the bank has suffered through 2 years of heavy losses. The bank reported a loss of $1.5 billion for last year, following a $7.2 billion loss in 2015. Deutsche Bank is now planning to sell-off a large number of its shares to raise about $8.5 billion dollars. This effort marks the 4th time in 7 years the bank has needed to raise capital, and brings the total raised to $32 billion dollars, which is more than the bank’s current market value.

Deutsche Bank’s share price was battered back in September, 2016, as it crashed to its lowest level in more than 20 years because of worries that the bank did not have the funds to cover its huge legal costs. Deutsche suffered $2 billion dollars in losses. Deutsche Bank shares fell last Friday and continued falling today.

Deutsche Bank also announced changes on two big strategic moves it made in 2015. According to CNN/Money:

  • It’s no longer planning to spin-off its Postbank subsidiary, which has a big retail branch network. Instead, it wants to merge Postbank with its private and commercial banking business.
  • And it’s putting its market trading operations back into the same unit as corporate and investment banking after previously splitting them up.

Deutsche Bank has been trying to climb out from a number of legal cases that have hurt the bank since the global financial crisis. The bank recently agreed a $7.2 billion settlement over toxic mortgage assets, and was hit with about $630 million in fines over a Russian money-laundering scandal.

Geopolitical worries appear to be on the rise. (IE: North Korea firing missiles into the sea near Japan; France dealing with the challenges of a very contentious Presidential election, and now “the world’s riskiest bank-Deutsche Bank” attempting to raise another $8.5 billion in a stock sale.)

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