Are part of the solution in the Corona crisis

Dhe Deutsche Bank sees itself well equipped for the corona crisis and wants to use it for additional business. The bank is in such a strong position today as it has not in many years, says CEO Christian Sewing in his speech to the general meeting this Wednesday, which was published in advance as a manuscript. Among other things, she found more voice in politics and, for example, advised the federal government on how the aid programs for the economy should be set up. “We can say with a certain pride: We are part of the solution in this crisis.”

That also has potential for new business. A third of the requests for dealing with the Corona crisis come from companies that have not previously been customers of the bank. “Many a tradesman or self-employed person believes that a fintech start-up is well served as long as payments can be made at low cost,” said Sewing.

But now, in the crisis, they needed “a real house bank”. The chairman of the supervisory board, Paul Achleitner, also emphasized in his speech, which had already been circulated, that the question of why a major German bank was needed no longer arises at a time when more and more borders were being drawn up again.

Shareholders have to forego dividends

Sewing also announces that the bank wants its lending more tied to sustainability criteria. By the end of 2025, the volume of sustainable financing and the portfolio of assets under management in sustainable investments should increase to a total of more than 200 billion euros. With a view to the expected increase in the number of loan defaults in a recession, Sewing says: “Our loan book is low-risk and well diversified. We granted half of our loans in Germany, and around 60 percent of them are well-secured private mortgage loans. ”

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