DB - Deutsche Bank Is Trading At A 65% Discount To Its Fair Value While Working On Its Transformation Plan
Introduction
It’s never easy to fully understand banks, and it’s even more difficult to try to figure out large systemic banks with a large position in derivatives. Deutsche Bank (DB) has been an eternal underperformer ever since the Global Financial Crisis as the bank has been trying to reinvent itself by reducing risk and improving its balance sheet. The bank still isn’t out of the woods yet, and after checking the half-year report, I remain on the sidelines.
Data by YCharts
Although Deutsche Bank has a liquid US listing, the bank reports its