As the leader in German banking for close to 150 years, Deutsche Bank almost needs no introduction. This is a full-service bank with rather a strong brand. Also, it provides its clients with a wide variety of products and services to choose from. Especially relevant is the fact that the bank has branches in most of the money power hubs in the world. Consequently, this is why the term Banking Behemoth.
In addition, Deutsche Bank enjoys the biggest market share in Germany. Due to this, there are plans to expand to other countries already in place. Consequently, some of the countries who already enjoy the German bank’s presence include India, South Africa, and China. According to figures as at 31 December 2015, the banking giant has almost 2,790 branches. Of these, almost two thirds of them are in Germany. The bank expands into the Americas and Asia, which is almost a full global footprint.
Target Market of Deutsche Bank
While being the go-to bank for Germans it also provides a unique service. Yet, it also happens to be the bank of choice for wealthy clients. This is due to the product ranges which provide high-profile clients with discreet service and better features. Hence, the global presence of the bank provides its customers with peace of mind should they wish to travel.
The economy always plays a big role in the success and financial well-being of a bank. Consequently, Deutsche Bank is no different.
History of Deutsche Bank
The Late 1800's
Founded in 1870 by bankers, Deutsche Bank set forth to break the mold set by British banks. In addition, growth was on the cards. Between 1871 and 1873, the bank opened five branches in Bremen, Yokohama, Shanghai, Hamburg, and London. Most of all, this set the tone for the banking giant with an obvious interest in foreign trade.
This was not viable for long, quite the opposite. Hence deposit taking became the main core of the bank. The new leg of the bank created the capital base the bank needed, therefore, it moved forward. As a result, in 1876, the bank moved premises from the Französische Strasse in Berlin. It moved to Behren-, Mauer- and Französische Straße – a junction of three streets.
From 1890, the bank played a key part in the German economy. This was due to a strong focus on the electrical engineering, iron, and steel sectors. Consequently, it was also during this period that the bank saw an increase in growth efforts. As a result, joint ventures and the planting of local branches became a strong focus.
Furthermore, what happened after World War I gave banks and other financial houses with problems. In addition, surplus income was no longer available and the need for finance increased. Deutsche Bank also had to recover from the loss of foreign assets and liquidations. These were due to the postwar damage.
The merger of Daimler and Benz and the forming of the UFA shed some light into the dark days. It was during this period when the competition was snuffed out as Deutsche Bank and Disconto-Gesellschaft merged. The bank also changed its name after the merger but changed back to Deutsche Bank in 1937. This merger strengthened the bank’s position and gave the cash needed.
The Third Reich was the cause of much uproar within the banking structures. It forced the overturn of the board. It also forced the bank to turn away Jewish clients en masse when it cut ties with Jewish firms. The bank was involved in the dispossession of Jewish assets during this period. The proceeds were paid over to the German Reich.
The war did provide the bank with the chance for growth. As a result, Austria and Czech lands were added to the roll. The link to the sale of gold from Holocaust victims was not proven. The bank, however, still accepted its role during the Third Reich. Deutsche Bank is now part of the Remembrance, Responsibility, and the Future movement.
The Fifties and Beyond
After the war, it proved to be one of the toughest periods for Deutsche Bank. It had to face the many questions around their conduct. The bank was broken up into ten different banks who were forbidden to trade as Deutsche Bank. This didn’t last and a period of merging took place in 1952, which was finished in 1957.
Once the era came to an end, it was time for the bank to rebrand itself. Deutsche Bank decided to follow a route that was thought to be far from normal. They delved into general retail banking. This period strengthened the workings the bank is known for today. It is also the period that allowed the bank to once again seek international business. They succeeded in Italy, Spain, the UK, and the US.
The last few decades has seen successful mergers in many foreign countries. This allowed the bank to be branded as a global player. Deutsche Bank as a group has branches in all regions of the world.
Access to Deutsche Bank
The bank has the traditional setup of a walk-in bank. That doesn't mean it shies away from technology. Clients are able to perform many of their transactions on the online platforms specific to their countries.
Clients are able to view their details and to some of the transactions. Some of their applications will need to take place within the bank.
Customers have access to various platforms to access their internet banking:
- “My Bank” for clients who want to bank from anywhere.
- “My Card” for more transparency.
- “Deutsche Bank Mobile” a banking app for iOS.
Access to a program where clients can track:
- Income and expenses.
- Set up and plan savings.
- Personal choices in terms of the settings.
- Share transactions quickly and with ease.
- Optional photoTAN reader.
Many of the branches operate a steady 9AM to 5PM. They are closed over on specific holidays based on the location. Apart from the 1,827 branches in Germany alone, there are a number of branches scattered across the globe. Their global footprint includes:
- Austria, Belgium, Bulgaria, Croatia, Czech, Denmark,
- Finland, France, Greece, Guernsey, Hungary, Ireland,
- Italy, Jersey, Luxembourg, Malta, Netherlands, Norway,
- Poland, Portugal, Romania, Russia, Serbia, Spain,
- Sweden, Switzerland, Ukraine, United Kingdom.
- Australia, China, India, Indonesia, Japan, Kazakhstan,
- Malaysia, Pakistan, Philippines, Singapore, South Korea,
- Sri Lanka, Taiwan, Thailand, Turkmenistan, Vietnam.
Africa and the Middle East
- Bahrain, Egypt, Israel, Mauritius, Nigeria,
- Qatar, Saudi Arabia, South Africa, Turkey,
- United Arab Emirates.
North and Middle America
- Canada, Cayman Islands, Mexico, USA
- Argentina, Brazil, Peru
A global presence like this makes it easier to conduct business and keep projects moving. Dedicated bankers and smooth, seamless processes allow Deutsche Bank’s customers to travel with ease.
The branches are fully equipped to offer the wide range of services that Deutsche Bank offers. Also, global product offerings may differ in the different regions. Clients will need to contact their local bank to find out what they have on offer.
Furthermore, as a full-service bank, the traditional Deutsche Bank branch offers a full range of products and services. These will cover a client’s financial needs. This includes lending, transacting, and building wealth.
Savings – Fixed
Fixed Term Savings
- First of all, this is an account that is suitable for the individual.
- No charges or service fees, which means free account management.
- The account does not carry any price risk at the end of the term or after an end year.
- Investment periods of between 6 months and 8 years.
- Also, the rate is fixed for the whole agreed term.
- The longer the chosen fixed term, the higher the interest rate on the investment.
- A simple account that doesn’t need account holder instructions for automatic reinvestments.
- Opening deposit of € 2,500.
- Furthermore, the option to end the investment within the three-month window period at the end of the term.
- Also, the customer would need to familiarize themselves with the terms upfront.
- Finally, customers can request the account online.
Fixed Term Savings For New Investors
- A fixed term investment for those who are new to Deutsche Bank. Also for those who are bringing over funds that aren’t currently invested with the bank.
- Investments between € 2,500 and € 100,000.
- This account is also suitable for individuals.
- Free of monthly fees and service charges, which includes account management.
- Also, a fixed interest rate of 0.75% pa interest for a fixed term of 6 months.
- A safe interest investment without price risk at the end of the investment.
- Furthermore, customers are not required to diarise their reinvestments as they can reinvest automatically.
- Finally, customers can request the account online.
Top Interest Savings
- A fixed interest rate over the entire term of the investment. However, this is if the investment runs for the entire term selected.
- Also, a term between 4 to 18 years.
- Furthermore, customers will receive a higher interest rate the longer the investment term they choose.
- Savings start from as little as € 25 per month.
- Also, customers will benefit from annual interest rates and compound interest.
- An investment without risk.
- In conclusion, customers can request the account online.
Savings – Flexible
Money Market Savings
- A market-related variable rate of return. This means the investment is not fixed and the interest rate is not guaranteed.
- The opening deposit starts from € 5,000.
- Customers are able to switch their investments to other Deutsche Bank investments at any time.
- Furthermore, the investment will receive fair market rates.
- The interest is based on the credit balance.
- There are no service fees, which includes account management.
- Amounts up to € 2,000 are readily available for use. A higher withdrawal from the account will require a three-month notice period.
- Also, this account can be used as a clearing account for securities deposits.
- Customers are able to view the details of the account online.
- Finally, this account is available online.
Savings Card Account
- First of all, an account that gives customers access to their savings with a card.
- Customers can withdraw money with their Savings Card worldwide, at no charge.
- Also, the account can be opened with as little as € 1. Also, interest will be earned on all balances over € 1.
- Customers can draw up to € 600 at ATMs, with a maximum of € 2,000 per calendar month.
- Amounts over € 2,000 will require a three-month notice period.
- Customers can perform a handy ATM search on the website.
- Furthermore, the account is automated. This means credit balances are carried over and saved.
- Personal account security will ensure unauthorized use of the card overseas will be blocked. Therefore, travel plans need to be discussed with the help desk prior to the trip.
- In conclusion, customers can request the account online.
- A savings account that includes various types of bonuses such as the youth bonus.
- This account also attracts state support.
- Also, the account is based on the German banks Building Societies.
- Furthermore, the account features several levels that attract different bonuses:
- The 0.5% basic interest is on the credit balance.
- There is a 10% start-up bonus in the first year.
- An annual bonus of 4% to a maximum of 10%, depending on the conditions.
- Those under the age of 25 will qualify for a youth bonus of 0.6%.
- An 8.8% housing bonus on the savings service and a 9% employee bonus from the state.
- Savings credits can be allocated.
- Finally, this account is opened in the branch.
- Firstly, an account for those who prefer doing their transactions online.
- A monthly fee of € 4.99 per month which includes free cash withdrawals worldwide.
- Also, the account has best online banking security.
- The choice to transact with mobile banking apps.
- Personal advice and customer service 24 hours a day.
- Furthermore, includes a Facebook service option.
- Certain transactions will attract fees.
- Also, a credit facility can be granted, provided that the client’s credit score is in order.
- Finally, clients have access to a digital mailbox for their statements. There is also as a digital budget book.
- First of all, an account that includes many of the charges in the monthly service fee of € 9.99.
- The account includes a free gold MasterCard.
- Also, customers can withdraw cash from an ATM for free.
- The option of using the card to pay all over the world. It is accepted by thousands of merchants.
- Customers will have access to personal advice and service.
- The account includes access to a Facebook service group.
- Furthermore, customers have access to travel services that include a 6% refund when they book with their card.
- The account allows for emergency cash of up to € 1,500 with loss of card and blocking facilities. This is available at over 220,000 pay points in 170 countries worldwide.
- Also, customers can apply for this account online.
- The account can be accessed through digital banking channels. These include online banking and mobile apps.
- Finally, customers will have access to a digital budget book.
- First of all, an ideal account for those under the age of 30 who are pupils, trainees, students, and volunteers.
- Customers will have access to the account through the mobile app.
- Also, the account is free to use and includes global free cash withdrawals.
- Customers will have access to customer service and personal advice.
- The account includes a 0.10% benefit interest.
- Account holders can access their funds with the help of a card.
- Furthermore, the card can be used at thousands of merchants located across the globe.
- Customers who require a credit facility can apply for up to € 1,000 instant credit, according to their creditworthiness.
- Finally, customers can apply for the account online.
- First of all, an account model that provides a credit line.
- Also, the chance to deal in a cashless, online space.
- Suitable for those who have a good credit score and are over the age of 18.
- Finally, customers can apply for the account at a branch.
International Student Account
- First of all, an account specially designed for students who are from non-EU countries.
- This account is a pre-requisite for visa applications.
- Also, an official verification confirmation for embassies and authorities.
- Furthermore, this account is opened in the branch.
- First of all, a loan of up to € 75,000 that can be used for personal projects.
- A loan term of up to 95 months for affordable premiums.
- Also, low interest rates to ensure customers receive a beneficial deal.
- The first payment is only due 90 days after the loan is granted.
- Customers have the option of a premium holiday once a year.
- Furthermore, the loan includes a 30-day cooling off period.
- Also, the approval process is fast. Customers tend to receive their payout the same day.
- Special payments of up to 100% can take place at any time, free of charge.
- Finally, customers can apply for the product at the branch.
Private Credit Direct
- First of all, a fast, online decision that allows you to take up a credit facility between € 1,000 and € 50,000.
- Customers can choose a payment period of 12 to 84 months.
- A loan that can be used for personal reasons. Also as a consolidation loan to settle their debt at other institutions.
- Also, customers have a 30-day cooling off period.
- The first payment is only due 50 days after the loan is granted.
- Furthermore, customers have the option of a special payment. This is up to 100% any time, at no extra charge.
- Payout of the fee usually happens the day after all the documents have been received.
- Customers can do this application online.
Private Credit for University Graduates
- A private credit product specifically designed to meet the needs of graduates.
- A low starting interest rate to make the product more attractive to graduates.
- Fixed repayment rates.
- The customer can choose the repayment term, between 12 to 120 months.
- The loan can be up to € 50,000.
- The starting interest rate is calculated on the customer’s creditworthiness and has a maximum of 7.9%.
- A hedging option is possible for those who have credit life, disability, and unemployment insurance.
- This is also a good option for those who wish to repay their student loan debt.
- Customers can apply for this product per appointment.
KfW Study Loan
- An opportunity for students to get finance for their studies.
- A collaboration between Deutsche Bank and KfW.
- Students apply for the loan online by completing their details. The form is printed and then handed into the nearest Deutsche Bank branch.
- Once the bank finishes their examination of the application, it is forwarded to KfW for a final decision.
- Furthermore, there are many favorable benefits to the loan, including the repayment period, maturity options, payment holidays, and more.
- A loan that is great for the environment and great for the home.
- The loan has favorable terms for those who wish to make Green improvements to their existing property. It also benefits those who wish to build an eco-friendly property from scratch.
- The loan is structured as a combination of home financing and KfW loans.
- The loan offers an improved planning security of up to 20 years interest rate linkage.
- The opportunity to make use of the Deutsche Bank energy consultants at a rate of €100 an hour.
- The opportunity to have more liquidity by paying the KfW loans. This by 5 years after completion of the upgrades or building projects.
- Customers have the option of applying online and at a branch.
- A home loan specially designed for the growing family.
- A combination product that offers home finance and building savings.
- A long-term loan that offers secure planning.
- This loan is suitable for those who have at least one child who is dependant on them.
- There is the option to change the repayment rate twice during the interest rate fixation of the mortgage loan.
- Customers have the option of paying their loans back faster.
- Customers will benefit from an additional subsidy per child.
- This type of loan offers certain tax advantages as well through a special expense deduction.
- Customers will also receive competent and professional hedging advice
- A loan that provides the future homeowner with the funds to build their dream home.
- A proper assessment of the application will be done to ensure that the product meets the client’s needs.
- Customers have to option of choosing the term that best suits their needs.
- There is an opportunity to change the repayment rate during the term.
- Special repayment conditions are available.
- This type of loan allows the involvement of public funding, such as KfW.
- Customers will receive personalized service and consultations can take place at their home.
- A preliminary decision will be made within the first week of the application.
- Customers will enjoy the benefit of a 30-year interest term, which ensures secure financing.
- 100% Financing is available.
- Customers have the option of risk hedging on this type of loan.
- Customers can choose an appointment or do the application online.
Students, Career Starters, and Professionals
- Income protection products to protect the customer from financial problems should they become incapacitated.
- A private pension plan that is supported by state funding.
- Private liability insurance product to cover a moment of carelessness.
For Families and Young Parents
- Security that provides a safety net for partners and children should an unforeseen circumstance arise.
- The change to save additionally to retirement for a better future.
- The opportunity to save for future generations.
- A package that includes care insurance should this unforeseen event occur later in life.
- The option of a larger deposit for immediate pension payments.
- A package that includes the option of adding residential building insurance. This is for that second home or holiday pad at affordable rates through Zurich.
- Allows customers the freedom to have an appointment with a financial adviser. This will provide him with the right mixture of basic, supplementary, and private provisions.
- In-depth consultations where pension payments happen at a rate that meet client needs.
- Also, there is suitable advice from a financial adviser to choose the correct structure of the plan.
- Furthermore, the option of choosing supplementary products. These allow those golden years to be enjoyed to the full.
Deutsche Bank Private Depot Comfort
- This product is suitable for the occasional investor.
- It allows the investor to do up to ten transactions per month.
- Customers will have access to free consultations. Also, online and mobile banking, investment apps, global investment news, and virtual deposits and tracking.
- The account carries an annual charge of € 19.99 which is billed annually.
- Customers can apply for the account in the branch.
- This account is a good starting point for those who wish to build their personal wealth.
- The deposit price is reduced the higher the deposit.
- Some transactions will attract additional charges.
- This account is opened on an appointment basis.
Deutsche Bank Private Depot Dynamic
- An investment for the more seasoned investor.
- Suitable for those who do at least ten transactions per month.
- A transaction charge of € 288 per month.
- The account includes free access to consultations. Also online and mobile banking, investment app, global investment news, and virtual deposits and tracking.
- Customers will pay a portion of their annual fee every quarter. This helps reduce the burden a one-off deduction might cause.
- Higher deposits attract a lower deposit price.
- Some transactions will attract additional charges.
- This account is opened on an appointment basis.
Deutsche Bank Private Depot Youth
- An investment designed to encourage the youth to invest from an early age.
- The account carries no annual service charge.
- No deposit charges are levied on the account.
- The investment includes free access to consultations. Also online and mobile banking, investment app, global investment views, and virtual deposits and tracking.
- Certain transactions do attract charges.
- Finally, this account is opened on an appointment basis.
Lending and Credit Solutions
- Personalized credit and lending solutions for clients who have unique needs and fall within the high net worth division.
- Finance that encompasses the unique challenges faced in this category. These include the variety and uniqueness of the funding required.
- The use of Corporate and Investment Banking to develop tailor-made packages.
Retirement and Pensions
- A financial solution for those who want to make the most of their assets at retirement.
- Also, there is the opportunity to discuss financial strategies designed to minimize risk.
- In addition, a retirement plan that is tailored to the needs of the client.
- Furthermore, the chance to go into retirement while maintaining a high standard of living.
Trust and Estate
- Wealth management for trusts and estates that include asset transfers, family trusts, property management, and estate valuation.
- Also, the optimization of trust structure and legacies.
- In addition, effective tax planning is offered.
- Financial security for future generations.
- Finally, direct current and future use of assets.
Discretionary Portfolio Management
- Investment planning that includes options on the major international markets.
- A portfolio manager who handles the day-to-day transactions.
- Furthermore, regular performance reporting is part of the package.
- Finally, the active management of the investments ensures investment outcomes align with the investment strategy.
- First of all, a choice for many investors who rely on the income their investments give.
- Furthermore, a complex investment plan that includes the conservative options.
- Also, a proper investment needs test and risk tolerance will be completed. Finally, this ensures the investment class and yield desires are the same.
Developed Market Equities
- First of all, customers will have access to shares of companies in developed countries. These include USA, Japan, Australia, and many of the European countries.
- In addition, the investments are available through individual shares. Also, funds through derivative instruments such as options and futures.
Emerging Market Equities
- These shares are for countries in developing countries that show growth potential.
- Furthermore, shares in these countries carry more risks than those of the developed markets. They can also lead to share price risk.
- Also, these countries would include many of the countries in Asia (ex Japan), Eastern Europe, and Latin America.
- Consequently, these portfolio investments include the advice from industry experts. This is because they have experience in the geography and industries of these nations.
- First of all, this is not only for those who wish to travel abroad. It is also those that rely on foreign exchange as part of their investment plan.
- Furthermore, Deutsche Bank Wealth Management provides proactive FX management. This ensures clients have a spread portfolio and better investment portfolios. Also, they can hedge currency risk.
- Clients have a variety of FX products and plans to choose from. And, this is added to top-tier global planning.
- In addition, clients will be in a position to control their risks and manage their exposure. Also, they will make additional yield and more when it comes to their FX portfolio.
- Finally, customers who need hedging plans or online forex trading advice will have this and more. The Wealth Management FX team will be able to give them sound financial advice.
- First of all, investment in commodities can give some great range for clients within their investment portfolios.
- Also, commodities include raw materials. These are oil, gas, precious metals, industrial metals, and agricultural products.
- In conclusion, clients will have access to expert advice and proper market research.
Private Equity Investment
Venture Capital Equity
Customers have the chance to invest in the creation and growth of smaller companies in market sectors. Furthermore, these include technology and biotechnology.
Leveraged Buyout Equity
The gaining of larger, more mature companies where the cash flow is consistent. Also, they run according to a predictable forecast model.
A form of business rescue for companies that experience financial or operational problems.
Fist of all, this is a different approach to the property market. It is to ensure that the asset gives a steady form of income. Also, to provide an addition to the balance sheet. Wealth managers choose the portfolios with the following in mind:
- Appealing risk-adjusted returns
- Also, low links with other traditional asset classes
- Finally, a hedge against inflationary moves
Firstly, this is a product where the client will receive the information needed to make informed choices. Also, all the decision-making responsibility will remain with Deutsche Bank.
A team of 30 professionals make up the Hedge Fund portfolio. Also, they combine their skills of research, portfolio management, and also investor experience to ensure proper hedge fund solutions.
Customers can choose from over 150 leading hedge fund products. In conclusion, customers will have the chance to invest with the most respected managers.
Corporate and Investment Banking
First of all, corporate customers have access to experienced portfolio managers. They give sound financial advice where asset management is concerned. Also, asset management advice is given for the following asset types:
Cash Management Solutions
First of all, cash flow management in corporations needs to be managed on a different level with each business. Furthermore, the market conditions that control the terms of that area give the guidance for that segment. The solutions, therefore, differ from business to business. Finally, customers will have access to solutions that go beyond borders, currencies, and payment types.
Also, cash management solutions cover a wide area, including:
- Central and Eastern Europe
- Saudi Arabia and
- United Arab Emirates
There is also an Asian presence in 14 countries. Furthermore, a network in Australia, New Zealand, and Macau.
International payment systems that can handle large amounts of transfers. Also, these include bulk
First of all, the need for the physical cheque has not phased out entirely. This even with all the electronic payment options. Corporations will have access to:
- Cheque receivables and
- Cheque payables
A forex access channel that makes global payment and clearing systems faster and more efficient. Furthermore, a one-stop solution for global cross-border currency payments.
First of all, the chance to make low-value ACH payments. Also, these take place around the globe to vendors or suppliers through a cost-effective network. Furthermore, access to low-value clearing systems without the need to have accounts in different countries. As a result, a single point of contact for cross-border payment. Finally, these support more than 120 payment currencies.
Single Payments and Receipts
First of all, clients will have access to treasury payments and high-value payment wires. Finally, this is available to outgoing, single, domestic, and cross-border, multi-currency, high-value payments.
Liquidity Management Services
- Cash concentration
- Client netting service
- Liquidity manager and
- Investments (money market funds)
Debt Capital Markets
Fist of all, corporate clients will have access to the entire suite of financing options. These will cover their debt needs. In addition, there are financing, risk management, and treasury product solutions.
Also, customers will have access to:
- New flow in investment grade debt
- High yield loan capital markets
- Also, private placements for corporate, financial institutions, and sovereign issuers. Furthermore, supranational, agency, and emerging market issuers.
- A world-class franchise business that combines a high-yield bond market business.
- Finally, different debt financing means.
The bank is able to:
- Underwrite, and
In conclusion, senior, mezzanine and high yield transactions in all the major financial centers. This group includes the Ratings Advisory and Liability Management teams.
Equity Capital Markets
Customers will have access to:
- IPOs – Deutsche Bank is the only firm to have bookrun the five largest. They include Alibaba, General Motors, Agricultural Bank of China, Industrial and Commercial Bank of China, and AIA Group.
- Follow-on offerings
- Right issues
- Block trades
- Accelerated book buildings
- Equity-linked products
Global Equity Trading
Customers will have access to a global network of electronic and high-touch services that provide differentiated liquidity.
Global Equity Derivatives
The access to execution services across flow, structured, corporate products and convertible bonds.
Global Prime Finance
Customers will have access to a platform that allows them to take part in new markets and asset classes. Furthermore, customers will have access to multi-asset class financing, prime brokerage, and clearing solutions in markets worldwide.
Global Market Structure
Customers will have access to information and expertise of local policy makers and infrastructure providers. They will help them respond and understand to local and global issues.
Mergers & Acquisitions
Deutsche Bank provides clients with extensive cross-border capabilities, industry sector expertise, and a creative approach to complex transactions.
Customers will have access to knowledge and insight in global and regional industries, a powerful product platform, and a comprehensive network of relationships to ensure they reach their strategic objectives.
Finance for Sustainable, Large Scale Projects
A diverse portfolio of projects that will make a positive difference to the environment. This is to the benefit of the entire planet. Most noteworthy is that Deutsche Bank is one of the largest financiers of renewable energy. Finally, they provide a unique approach to a diverse portfolio.
Customers will have access to risk mitigation methods of the international trade value chain. This is as a result of a variety of services and products. These are custom-made for structured trade and export finance.
Customer Satisfaction Reviews
Customer service ratings are hard to find for this banking giant. Furthermore, there is no internal reviewing system. This makes it hard to determine customer satisfaction. In addition, if there is, it is obscured by all the links. These take you to the comments or feedback section on the bank’s website. Yet, there are a lot of employee ratings on the bank. These generally give a good indication of the health within the organizational tiers of the bank.
The staff of the bank rates them at a stellar 3,4 of 5. This is exemplary, considering the amount of pressure the bank is under in the current economic climate. A whopping 81% of the staff approve of the CEO. Most of all, the majority of staff have a more-than-positive outlook.
Indeed provides the bank with an even better rating than Glass Door. In addition to flowery words of recommendation, the staff rates the bank at a glorious 4 out of 5.
Information on the customer satisfaction rating of the bank itself may be somewhat elusive. Also, thanks to Bank Bazaar the Savings Account is something the bank can be proud of. It scored a 5 out of 5, which is a great indication of the product health of the bank.
Financial Stability Rating
First of all, there are many things that determine this rating. The current economic condition the bank finds itself in currently is just a part of it. Also, as a result, the downgrade of the bank in 2016 was due to many reasons. Furthermore, one of which the imposing need for a possible government bailout. Finally, the restructuring of the business model played a big role in the ratings.
In May, Moody’s downgraded the following:
- Senior debt to Baa2
- Long-term deposits to A3
- Counterparty risk assessment to A3(cr)
The forecast, however, is stable.
Standard & Poor’s
Especially relevant is that although the bank still has a high rating of BBB+ on the Long-term senior debt rating. S&P rated the bank with a negative outlook in July 2016.
Security of Funds
Deutsche Bank relies on two different protection schemes.
- The German Deposit Guarantee and Investor Compensation Act
This Act protects the deposits and liabilities arising from investment business. These are kept at the private commercial and building and loan associations.
Right to Compensation
- Private individuals
- Partnerships and
- Small corporations
- Deposits of banks
- Deposits of finance services institutions
- Insurance enterprises
- Also, medium-sized and large corporations and
- Deposits of public authorities
Scope of Compensation
- Deposits up to a limit of € 100,000 and
- 90% of liabilities arising from investment business, limited to €20,000.
- The Deposit protection Fund of the Association of German Banks
Scope of Protection
This Act fully secures the deposits of every customer at the private commercial banks. These go up to 20% of the liable capital of each bank.
Review by Critical Review 8 of 10
Drawbacks of Banking with Deutsche Bank
Despite the rulings set forth during the Basel Accord, the bank still shied away from the rulings. It now faces tough financial times. Also, the bank itself provides a full-spectrum of services. The negative ratings from Moody’s and Standard & Poor’s had an effect. Investors will be less willing to deposit their funds at this bank or trust it with its assets.
Furthermore, customers have access to many of the services online. However, there are still products that require the customer to make a booking at the bank.
Advantages of Banking with Deutsche Bank
The bank has been through many storms since it was founded. Although, it seems likely that a government bailout is on the cards. Finally, as a well-oiled machine, the bank requires a final push in order to ride out the latest wave. The bank would have enjoyed a full star rating had it not been for its current financial troubles.