Deutsche Bank said may be 'beyond repair'

Charlton Heston in the Ten Commandments

Waiting for a miracle ?

Bloomberg News reports that Deutsche Bank may be “beyond repair” unless there’s a “miracle” boom at its once-mighty bond-trading business, according to Autonomous Research LLP.

The firm’s “faltering” fixed-income and currency markets franchise, which generates about a quarter of profits, can no longer be counted on to drive earnings, Autonomous co-founder Stuart Graham said in a September 18 note. Adding to the bank’s problems, more than a decade of under-investment in technology has left it a “clear laggard” to rivals like JPMorgan Chase, while misconduct scandals have tarnished its reputation with clients.

“When we consider the basics of what makes a bank a winner - trust (or brand), balance-sheet muscle, technology and its people - Deutsche looks to be in very bad shape,” Graham said. “In such situations it is inevitable that some investors start to question whether the bank has the right leadership.”

Hit the link below to access the complete Bloomberg News article:

Deutsche Bank ‘Beyond Repair’ as Trading Drops, Autonomous Says

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