About
Deutsche Bank AG was founded in Berlin in 1870 and is headquartered in Frankfurt, Germany. It is a multinational investment bank and financial services company. The bank is dual-listed in New York Stock Exchange and Frankfurt Stock Exchange.
It operates a massive network that spans 58 countries. Deutsche Bank has a large presence in European Union, the America and Asia. In terms of total assets, it was the 17th largest bank in 2017–2018. It is one of the largest German banking institution and a crucial component of the DAX stock market index.
The universal banking company runs three major divisions including the Corporate & Investment Bank (CIB), Private & Commercial Bank, and Asset Management (DWS). Its investment banking operations command the larger chunk of deals.
Listing and Revenue
| Revenue | € 22.4 bn |
| Operating Income | € 2.6 bn |
| Net Income | € 5.2 bn |
| Total Assets | € 1.29 tn |
Products and Services
Deutsche Bank offers products and services like Investment banking, Corporate banking, Asset management, Commercial banking, Private banking.
History
In 1870, Deutsche Bank was founded as the specialist bank to promote German exports and fund foreign trade. Over the years, the bank has played a crucial role in developing the industrial sector of Germany as its business model was tailor made to finance industries.
On 22 January 1870, the bank's statue was adopted and it got the banking license from Prussian government on 10 March 1870. Its first two domestic branches were launched in 1871 and 1872 respectively. Deutsche Bank opened its international offices in Shanghai, London, and South America in 1872, 1873, and 1874-1886 respectively.
Acquisition
In 1989, Deutsche Bank acquired Morgan, Grenfell & Co., a UK-based investment bank to beef up its investment banking presence. In November 1998, it acquired US firm Bankers Trust for a bailout of $10 billion after the trust suffered major losses.
Deutsche increased its presence in Italy by acquiring Banca Popolare di Lecco for around $476 million. It also acquired a minority holding in Cassa di Risparmio di Asti in 1999. The bank strengthened its foothold in Germany by acquiring Berliner Bank, Norisbank, and Deutsche Postbank.
Awards and Recognition
CEOs Anshu Jain and Jürgen Fitschen along with the major shareholders of the bank received the Black Planet Award of the Foundation Ethics & Economics in 2013.