Deutsche Bank Now Owns Majority Of Postbank

Deutsche Bank DB now has a majority stake in Deutsche Postbank, after investors agreed to a takeover, according to Bloomberg. Deutsche Bank is buying Postbank to add retail banking to its operations, and analysts are positive on the move. “It was the right step for Deutsche Bank to cut dependence on investment banking,” said Philipp Haessler, an analyst at Equinet AG. Haesller has a buy recommendation on Deutsche Bank shares and recommends selling Postbank stock. “The company can now stabilize earnings in the medium term.” Chief Executive Officer Josef Ackermann was positive on the move in a statement. “We will consolidate Postbank by the end of this year as planned. In the future, Deutsche Bank Group will have more stable revenues and a more balanced earnings mix.”