A-ha!

13 February 2018 By Christopher Thompson Follow @CGAThompson

The German bank’s shares are down almost a fifth this year, valuing the lender at less than half its tangible book value. A successful IPO of its asset management business would help shore up credibility. If choppy markets permit, Deutsche should accelerate the offering.

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Deutsche Bank said on Feb. 2 it would list a minority stake in its asset management division, branded DWS, at “the earliest available window, subject to market conditions”.

The division reported a 2 percent rise in underlying revenues in 2017 and net money inflows of 16 billion euros during the year, reversing an outflow in 2016.

Deutsche Bank shares were trading at 13.06 euros by 0830 GMT on Feb 13. They have fallen by 17.6 percent so far during 2018, while the EURO STOXX Banks index is up 2.2 percent over the same period.

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