Deutsche Closes 200 Branches in Germany

German economy on a knife edge: Struggling Deutsche Bank closes nearly 200 branches

GERMANY’S economy could be on the brink of collapse after its largest bank announced it will shut one-quarter of its branches.

PUBLISHED: 17:31, Mon, Jul 18, 2016 | UPDATED: 18:29, Mon, Jul 18, 2016

Deutsche Bank

Germany’s largest lender Deutsche Bank will shut one-quarter of its branches

Deutsche Bank will close 188 branches across Germany in the coming months, with 51 of them in the North Rhine-Westphalia region.

The lender has been forced to implement dramatic austerity measures after share prices plummeted by a staggering 48 per cent, marking an all-time low.

It has also pulled out of 10 foreign markets, including Russia and Australia, and is poised to cut around 3,000 full-time jobs.

Earlier this year Wolfgang Schaeuble, Germany’s Finance Minister, claimed he had “no concerns” about Deutsche Bank’s plunging share prices.

And co-CEO John Cryan insisted: “Deutsche Bank remains absolutely rock-solid, given our strong capital and risk position.”

But financial expert Max Keiser has poured cold water on their claims, saying the bank is “technically insolvent” and runs a “ponzi scheme”.

Deutsche Bank

The bank has pulled out of 10 foreign markets and will cut 3,000 full-time jobs

It’s dead, it’s insolvent, the bank is dead

Max Keiser

Speaking on Russia Today’s Keiser Report, he added: “The bank needs to go out of business, because they are not solvent.

“But politicians, including Schaeuble, allow for financial engineering products to come onto the market that mask insolvency.

“It’s dead, it’s insolvent, the bank is dead… This is a dead bank walking.”

4 Responses

  1. My loan is with wells fargo/ASC, but I received last year papers with deutsche bank, 1 for mortgage, other for note. I asked ASC in a QWR what they have to do with our account, never heard of them. They never answered that or other questions related to chain of title, etc. Did anybody else get papers from them? Do you suppose they are a place that loan was sold to, or maybe they are investor? Or custodian? Or maybe master servicer? If they are going out of business, is that going to affect our account? thanks

  2. Deutsche Bank Failure — could not happen to a better bunch of thieves – may they rot in their own crap. Hopefully Jamie Dimon of Chase get taken down too, he is the American version of the assholes.

  3. From that perspective… would not BAC and CITI also be considered insolvent. Hmmn, maybe that’s why this received no media coverage.

  4. This makes since as a ponzi scheme because Deutsche is a trustee over fake trust. These mbs trust never existed in the first place and if anyone was to check under the hood they will find that they never registered them with the IRS as a REMIC or filed any declaration of trust to do business in any State.

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