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Deutsche Bank falls down to 16th in the world ranking

siliconreview Deutsche Bank falls down to 16th in the world ranking

Reports say that 2016 was not a big year for Deutsche. The bank has undergone revenue crisis in the previous years and has fallen down to the 16th position in the private bank ranking. Private banking assets at Deutsche Bank fell 28 percent in dollar terms to $227 billion at the end of 2016, sending it tumbling five places to 16th in Scorpio's rankings of the 25 biggest private banks in the world. Though the revenues fell short of the market expectations, the second quarter has already seen an increase in the profit. Deutsche Bank faced a rocky 2016 in which the U.S. Department of Justice wanted the bank to pay $14 billion for mis-selling toxic mortgage-backed securities before the 2007-2009 financial crises. The breakdown had a great impact on the clients as well as many of them lost their confidence in the bank and decided to switch billions of pounds worth of business away from the bank.

One major reason for the breakdown of the business was the sale of a Private Client Services business in the US. There are few other factors that contributed to this as well. As a part of the business simplification process the officials had decided to exit around 50 countries and that was one other reason to be stated. With UBS at the top of the ranking and Swiss Lender stands as the world’s biggest private bank, Deutsch is expected to come out of this crisis soon.