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Investors are losing confidence in Deutsche Bank, as the value of the stock slowly but surely falls back to the low point of September 2016. At the time of writing, you're only paying From €11,37 for a share, which means that the company currently has a market value of approximately €24.3 billion. This puts Germany's largest bank in 95th place in the global ranking of largest banks, ranked according to its current market value.
The problems at Deutsche Bank stem from a series of scandals, including the manipulation of the price of gold and silver, the manipulation of the Libor interest rate and the resale of dubious mortgage loans to mutual funds and pension funds. These billion-dollar fines not only weighed on the company's results, they also did not do the bank's reputation any good. In fact, the bank's stock fell so much in 2016 that it was removed from the Stoxx Europe 50 index along with Credit Suisse.
Deutsche Bank slips in the ranking of largest banks (Via Holger Schaepitz)
In April, the company got a new director and the management was also overhauled, but that has not yet convinced investors. Credit analysts are concerned about the strategic challenges facing the bank. For credit rating agency Moody's, there was even enough reason to give the bank a Negative outlook to give.
Last week Reported Deutsche Bank posted a 79% drop in profit for the first quarter of this year and announced its plans to focus more on the European market and reduce its operations in the United States and Asia. The bank also wants to make significant cuts in its workforce again in order to bring focus and improve profitability.
The downfall of Deutsche Bank (Source: Statista)
