EQS-Ad-hoc: Deutsche Bank AG / Key word(s): Legal matter
Deutsche Bank AG: Deutsche Bank informs about legal dispute regarding Postbank takeover
26.04.2024 / 21:52 CET/CEST
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In a hearing on April 26, 2024, the Cologne Higher Regional Court dealt with lawsuits from former Postbank shareholders who argued that they should have been paid a higher price in connection with Deutsche Bank’s voluntary takeover offer for Postbank on October 7, 2010 must. In its remarks, the court indicated that it could find parts of these claims to be justified in a later decision.
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While Deutsche Bank continues to strongly disagree with such an assessment, the court’s comments influence the bank’s assessment of the likelihood of a future payment. This will result in a provision being created for litigation in the second quarter of 2024. This provision will impact the Bank’s profitability and capital ratios for the second quarter and the full year. The total amount of all claims, including accrued interest, is estimated at around 1.3 billion euros.
On a pro forma basis as of March 31, 2024, the total provision would reduce the Bank’s Common Equity Tier 1 (CET1) ratio by approximately 20 basis points, resulting in a Common Equity Tier 1 (CET1) ratio of 13.25%. On the same basis, the debt ratio as of March 31, 2024 would be 4.42%.
Given the complexity of this legal case and the short period of time since the court’s statements, Deutsche Bank management will continue to evaluate the legal arguments and the potential impact on financial statements. Management generally does not expect any significant impact on the bank’s strategic plans or financial objectives.
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April 26, 2024 CET/CEST The EQS distribution services include legal reporting requirements, corporate news/financial news and press releases.
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Language: German Company: Deutsche Bank AG Taunusanlage 12 60325 Frankfurt a. M. Germany Telephone: +49 (0)69 910-00 E-mail: [email protected] Internet: www.db.com ISIN: DE0005140008 WKN: 514000 Indices: DAX, EURO STOXX 50 Exchanges: Regulated market in Berlin, Düsseldorf, Frankfurt (Prime Standard), Hamburg, Hanover, Munich, Stuttgart; open market on Tradegate Exchange; NYSE EQS News ID: 1891087
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ISIN:DE0005140008WKN:514000
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