While Deutsche Makes Progress With Restructuring, Weaker Revenue Generation Continues as Expected
Deutsche Bank’s struggle with revenue generation continues. Its top line came in at EUR 14 billion for the first half of the year, indicating a sharp 10% drop compared with last year. We believe the bank’s operationally weak progress is reflected in the year-to-date results, and we see no reason to change our overall view on the bank; thus, we maintain our no-moat rating. Although we believe Deutsche Bank is making stable progress in its restructuring plan (with an asset-management IPO now expec...Deutsche Bank is a holding company acting as an international financial service provider. Co. offers a wide variety of investment, financial and related products and services to private individuals, corporate entities and institutional clients around the world. Co. has operations or dealings with existing or potential customers in most countries in the world. Co. is organized into the following six corporate divisions: Global Markets (GM); Corporate & Investment Banking (CIB); Private, Wealth & Commercial Clients (PW&CC); Deutsche Asset Management (Deutsche AM); Postbank (PB); and Non-core Operations Unit (NCOU).
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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