Deutsche Bank AG (NYSE: DB) is Germany's largest bank and one of the leading global financial institutions. Founded in 1870, Deutsche Bank provides retail and private banking, corporate and transaction banking, lending, asset and wealth management products and services as well as focused investment banking to private individuals, small and medium-sized companies, corporations, governments and institutional investors.
Deutsche Bank operates through several key business divisions:
Corporate Bank - Provides cash management, trade finance, lending and other transaction banking services to corporate clients and financial institutions.
Investment Bank - Offers fixed income & currencies trading, origination & advisory services, and equity capital markets to institutional clients.
Private Bank - Serves private, wealth management and business clients with retail banking products and services.
Asset Management - Provides investment solutions to individuals and institutions through the DWS brand.
Deutsche Bank has a strong presence in its home market of Germany while also maintaining a global network spanning 58 countries. As of February 2024, Deutsche Bank had approximately 90,000 employees worldwide. The bank is focused on expanding its position as a "Global Hausbank" by deepening client relationships and offering comprehensive financial solutions. Deutsche Bank aims to be the bank of choice for clients in all financial matters.
Deutsche Bank reported net profit of EUR 4.2 billion for 2023, exceeding analyst expectations. The bank announced plans to return EUR 1.6 billion to shareholders through dividends and share buybacks in 2024. Deutsche Bank is implementing a EUR 2.5 billion operational efficiency program, which includes cutting 3,500 jobs mainly in non-client facing areas. The bank is also investing in digitalization and artificial intelligence capabilities, partnering with firms like Publicis Sapient to accelerate adoption of generative AI across its businesses.
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