The bank, which was once a symbol of the German financial market, is having a hard time. Even the Pope withdrew his money from the bank.
It is Germany's largest bank in terms of turnover and number of workers. In October 2022, Deutsche Bank shares dropped, posing systemic risk to financial markets, causing concern. There is also talk of the possibility of a new banking crisis in Europe. Deutsche Bank shares have also declined from the peaks of 45 Euros, which they rose after the 2008 crisis, to 7.65 Euros. The bank is in the category of “systemically important financial institutions” (SIFI), namely “too big to fail” banks.
Gottlieb Adelbert Delbrück (January 16, 1822 in Magdeburg – May 26, 1890 in Kreuzlingen) was a German banker and businessman.
In March 2014, the US Federal Deposit Insurance Corporation (FDIC) sued 16 banks, including Deutsche Bank, for manipulating the determination of Libor rates.
Deutsche Bank was fined $8 billion in the US in 2016 for various corruption and irregularities. At that time, it was stated that the bank could go bankrupt.
Historical development
The bank was initially managed from a single centre. Management and decision-making power was in the hands of a single person. In 1884, the board of directors was formed and bank shares were put on the stock exchange. Adelbert Delbrück, who took over the management in 1889, changed the management system of the bank and made significant progress in its growth and kept his seat for a long time.
After Adolf Hitler came to power, Deutsche Bank removed three Jews from its board of directors in 1933 during the institutionalization process of the Third Reich. In later years Deutsche Bank was involved in the Aryanization of Jewish businesses.
Deutsche Bank is headquartered in Frankfurt, Germany. It is among the largest banks in the world, with its main headquarters in London, New York, Singapore, Hong Kong and Sydney. The bank was formed in the 20th century as a result of the merger of several small banks, including British banks, between 1914-1929-1957. The last time American banks joined the Banks group, the bank grew.
In January 2002, the bank made a significant change in its management system. The 12-member board of directors was tasked with setting strategy and providing controls. Led by Hilmar Kopper, the bank continued to expand to the world. As of February 1, 2006, the management changed again. German businessman Josef Ackerman took over the board of directors.
2018 notes
The bank, which was once the symbol of the German financial market, made an unexpected change in the top management in April 2018, and appointed a German to head the bank after the British top managers. Christian Sewing, who started his career at Deutsche Bank and worked at the bank for more than 30 years, was selected as the chief executive (CEO) to restructure the bank.
At that time, expected to fully end legal disputes in the United States and downsize commercial banking, hedge funds, and traditional investment banking, whether Sewing could restructure the bank, whose image was faltering and stocks floundering, and set it back on track to become the world's largest bank. discussed in the financial markets.
Technological advances bring new players to the banking sector, while more than 1,800 banks operate in Germany, including regional and foreign banks, all trying to seize Deutsche Bank's market share.
Considering that the annual national income of Germany, Europe's largest economy, is calculated over 3 trillion billion Euros; The bank is in a leading position in the world financial system with its financial derivatives products over 50 trillion Euros. The largest lender bank in Germany with a market share of around 40 percent has received billion-dollar fines in the past for various improper transactions.
The Qatari royal family has also owned 6.1 percent of Deutsche Bank since 2014.
Changing the name of the bank is also discussed
Deutsche Bank's name is also discussed in the German public. It is requested that the word "Deutsche-German" in the name of the bank pollutes the "Germany" brand due to the inappropriate transactions involving the bank, and therefore the phrase "Deutsche" is removed.