MNI China Daily Summary: Friday, August 2

MNI China Press Digest Aug 2: Hukou, Property, State Grid

MNI: PBOC Sets Yuan Parity Higher At 7.1376 Fri; -0.90% Y/Y

CHINA PBOC CONDUCTS CNY1.17 BILLION VIA 7-DAY REVERSE REPOS FRI

CHINA SETS YUAN CENTRAL PARITY AT 7.1376 FRI VS 7.1323

MNI CNB WATCH: Cut Pace Slows To 25Bps, Price Pressures Remain

MNI: ITALY JUN INDUSTRIAL PRODUCTION +0.5% M/M ; -2.6% WDA Y/Y

Detailed Swiss July Data Suggests Lower Services Price Pressure

Industrial Production Rebounds Less Than Expected in June

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

DBK Conf Call; Positive Guidance, Credit Curve Little Changed

FINANCIALS

DBK (DBK GY) conference call guiding towards earnings upgrades but also higher equity payouts. Deutsche curve indicating relatively flat, even though this is, net, positive news.


  • Raised revenue guidance and aiming for EUR32bn in FY25 (consensus: 30.0bn). Credit losses were marginally ahead of guidance but partly due to a model change. This sounds like earnings upgrades.
  • Mgmt alluded to “strong capital management” with a “strong CET1 ratio” but are moving to improve equity payouts towards 50% across FY24-25.
  • Feels like a real two-way pull of better operational metrics and lower risk but at least half of that benefit is flowing towards equity, rather than credit holders.
Credit BulletsBulletHomepagemarkets-real-timeCredit
Credit BulletsBulletHomepagemarkets-real-timeCredit

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.