The European banking desmorona with falls of until 14%
The financial entities suffer a strong varapalo in the parquet
Died the dog, finished the rabies? The markets continue hipersensibles to the possibility that other banks have problems in his balances like which have caused several rescues in U.S. and Switzerland. Now the focus of the investors centres in the icon of the German banking: Deutsche Bank. The group that directs Christian Sewing collapses 12% in stock exchange this Friday, until 8,2 euros, in the middle of the increasing doubts on his wallet of debt and the profile accionarial of the group, with the sovereign fund catarí like partner more notable (4,7%),gone on down the own autocartera of the entity (3%).
The insurances of non-payment on his debt (credit default swaps) have escalado in the last hours of considerable form until situating in maxima from October. The detonante has been a corporate operation to show fortress but that is having the contrary effect. The German bank has a profile of client oriented to the big heritages and to fortunes of Middle East, after the escape of clients and bankers from Credit Suisse in the two last years. Deutsche Has been one of the main entities of fate.
Deutsche Bank Has announced a repurchase of bonos subordinated by value of 1.500 million dollars with vencimiento in 2028. It treats of instruments of capital Tier 2 that are designed to reinforce the solvency of the bank that can include hybrid debt, bonos subordinated, provisions or reservations linked to the revaluation of an active of the entity, according to Basilea (BIS).
The entity does not give more details on the origin of this operation, that recesses the mattress of capital of the bank. Financial sources explain to 'The Information' that the Deutsche Bank can be treating to defend of the movements that comes suffering in the market. The cost of the CDS on the debt subordinated has shot until the 500 points, that is to say, that to ensure a debt of 100 million euros, it is necessary to pay a premium of 5 millions. The CDS on the debt senior maintain contained around the 120 points.
Unlike the Swiss group, Deutsche Bank already has faced the thickness of his restructuring. In 2022 it registered a net profit attributed of 5.025 million euros, more than the double that in 2021 and his best result from the crisis of 2008, in which the bank was very positioned by his area of trading hipotecario. The German entity already has faced in the last years the main part of his restructuring with desinvestments, adjust of staff and reduction of the risk by high exposure to the financial derivatives.
In the last days, the investors have put in quarantines his investments in banks so much in actions as in debt because of the juridical chaos desatado by U.S. and Switzerland, as they aim sources consulted by this newspaper. In concrete, the rescue of the deposits of the Silicon Valley Bank above the guarantee of 250.000 dollars ocasionó the total loss of his money to shareholders and part of the bonistas, many of them ahorradores like the depositantes.
In Switzerland, besides, the regulators jumped the order of prelación when executing and amortise the called Coconuts (bonos convertible contingents) of Credit Suisse like part of the rescue of UBS, but instead facilitated an offer of purchase of 3.000 millions for the shareholders. The ECB desmarcó of the Swiss solution and the rescues to the card in other countries to the time that remembered that the European banks are more saneados and watched.
