Future of Deutsche Private Bank in Australia Unknown
Deutsche Australia is debating with some of its Asia based executives over the future of its local private banking operations. The bank now only has about five to ten people in the Australia private bank. Executives in Asia have said that the unit is not profitable on a standalone basis and is being propped by revenues from margin lending.
However, local Deutsche banks still want the unit to remain operating as it is an important proposition for the investment bank and cross referrals.
News Source: Australian Financial Review
About Deutsche Bank
Deutsche Bank is Germany’s leading bank, with a strong position in Europe and a significant presence in the Americas and Asia Pacific. Founded in 1870, it has 2,790 branches around the globe, thereof 1,827 in Germany. The bank provides banking services to corporations, governments, institutional investors, small and medium-sized businesses, and private individuals — through four business divisions: Corporate and Investment Banking, Global Markets, Deutsche Asset Management, as well as Private, Wealth and Commercial Clients.
- Origin : Frankfurt, Germany
- Assets : EUR 1.63 trillion
- Revenue : EUR 33.53 billion
- Employees : 101,104
Official Website: www.db.com
News & Media: Press Release
Updated on 8th August 2016