Deutsche Postbank will not be raising more capital in near future
Deutsche Postbank AG Supervisory Board Chairman Frank Appel has not ruled out the need to raise more capital in the long term.
Deutsche Postbank AG Supervisory Board Chairman Frank Appel said Germany’s biggest consumer bank by clients doesn’t currently need to raise more capital.
“At the moment, we see no need for a capital injection,” Appel, who is also the chief executive officer of German mail carrier Deutsche Post AG, said in a Bloomberg Television interview in Davos, Switzerland on 31 January. He added “that might change over time.”
On 9 January, Postbank said it would post a pretax loss for 2008 after capital markets deteriorated and it suffered losses on equity investments. The Bonn-based company had a pro-forma core capital ratio, a key measure of solvency, of 6.9% at the end of the third quarter. That compares with a ratio of about 10% at Deutsche Bank AG, Germany’s biggest lender, as of the end of December.
Deutsche Post currently owns about 62% of Postbank and has signed an agreement to sell its shares to Deutsche Bank over the next few years. In November, Postbank, led by CEO Wolfgang Klein, raised about $1.3bn in a share sale. Deutsche Post bought almost all of the new stock issued.
