There will be no quick merger with another bank at Deutsche Bank. This becomes clear after a strategy meeting of the Supervisory Board with CEO Sewing. The restructuring program has priority. If this is successfully completed, one can think about a merger. So this will not be a possible item on the agenda until 2022. This removes the ground from rumors that UBS and Deutsche Bank will merge.
During the restructuring, the bank wants to part with up to 18,000 employees. The aim of the bank is to become more profitable again. There are still some construction sites here. This also makes the bank unattractive for a merger at the moment.
In the long term, however, the analysts at Independent Research consider a merger of major European banks to be inevitable. This is the only way to keep up with the big US banks.
As before, the analysts recommend a sell recommendation for Deutsche Bank shares. They still see the price target at EUR 6.70.
They do not make any changes to the profit estimates. In 2020 there should be earnings per share of 0.16 euros, in 2021 it should be 0.57 euros. There shouldn’t be a dividend in either year.
The shares of Deutsche Bank today gain 1.7 percent to 7.219 euros.