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Significant Markdowns Dampen Large German Banks' 2007 Earnings Mar 08

  • ID: 1711172
  • March 2008
  • Region: Germany
  • Standard & Poors

FEATURED COMPANIES

  • Bayerische Landesbank
  • Commerzbank AG
  • Deutsche Bank AG
  • Deutsche Postbank AG
  • Dresdner Bank AG
  • HSH Nordbank AG
  • MORE

Abstract
Market turbulence in the second half of 2007 has sharply reduced earnings of the 16 large German banks rated by Standard & Poor's Ratings Services (see table 1). This is due to the reassessment of credit and liquidity risk and lower revenues from trading and investment banking business. This negative trend and an ongoing flow of negative news, which intensifies market uncertainty, has continued in the first few weeks of 2008, and the subsequent widening of credit spreads will have further dampening effects on profitability and shareholders' equity (revaluation reserves) throughout the year. We estimate that earnings of the 16 banks could have dropped by about 80%* in the second half of 2007 to only about €3 billion compared with...

Companies mentioned in this report are:
- Deutsche Bank AG
- Dresdner Bank AG
- Landesbank Hessen-Thueringen Girozentrale
- Portigon AG
- Bayerische Landesbank
- Commerzbank AG
- DekaBank Deutsche Girozentrale
- DZ BANK AG Deutsche Zentral-Genossenschaftsbank
- Deutsche Pfandbriefbank AG
- UniCredit Bank AG
- Landesbank Baden-Wuerttemberg
- Sachsen Bank
- Deutsche Postbank AG
- HSH Nordbank READ MORE >

Note: Product cover images may vary from those shown

- Deutsche Bank AG
- Dresdner Bank AG
- Landesbank Hessen-Thueringen Girozentrale
- Portigon AG
- Bayerische Landesbank
- Commerzbank AG
- DekaBank Deutsche Girozentrale
- DZ BANK AG Deutsche Zentral-Genossenschaftsbank
- Deutsche Pfandbriefbank AG
- UniCredit Bank AG
- Landesbank Baden-Wuerttemberg
- Sachsen Bank
- Deutsche Postbank AG
- HSH Nordbank AG

Note: Product cover images may vary from those shown
Note: Product cover images may vary from those shown

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