Deutsche Bank: defends strategy in response to ISS report
(CercleFinance.com) - Deutsche Bank is defending its strategy after proxy advisory firm Institutional Shareholder Services has reportedly issued a negative recommendation against the German bank's boards.
In a statement issued today, Deutsche Bank said ISS' report does not reflect the bank's current situation, nor its control environment.
"We have a very robust balance sheet with a high capital ratio, ample liquidity and a strong asset quality," it said.
"Moreover, the share price should not be seen as an indicator for financial stability," Deutsche Bank added.
According to ISS, Deutsche Bank's shareholders should use the upcoming annual meeting to hold the group's boards "accountable for many years of substantial monetary and representational costs," the Financial Times reported on Wednesday.
Deutsche Bank will hold its annual general meeting on 23 May in Frankfurt.
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In a statement issued today, Deutsche Bank said ISS' report does not reflect the bank's current situation, nor its control environment.
"We have a very robust balance sheet with a high capital ratio, ample liquidity and a strong asset quality," it said.
"Moreover, the share price should not be seen as an indicator for financial stability," Deutsche Bank added.
According to ISS, Deutsche Bank's shareholders should use the upcoming annual meeting to hold the group's boards "accountable for many years of substantial monetary and representational costs," the Financial Times reported on Wednesday.
Deutsche Bank will hold its annual general meeting on 23 May in Frankfurt.
Copyright (c) 2019 CercleFinance.com. All rights reserved.