Da Quello che ho capito niente dividendo fino al 2012
Postbank scraps dividend until 2013, cuts jobs
Wed Nov 25, 2009 10:46am EST
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* Postbank to use 2009-2012 profits to bolster capital
* Says to cut about 10 percent of staff by 2012
* Postbank shares up 1 percent
(Adds details, background)
By
Edward Taylor
FRANKFURT, Nov 25 (Reuters) - Deutsche Postbank (
DPBGn.DE) said it would cut jobs and won't pay a dividend until 2013 as it unveiled an aggressive restructuring plan to bolster its capital position.
Germany's largest retail bank by customers said on Wednesday it would cut staff by around 10 percent, or 2,130 jobs, to 19,000 by end 2012 compared with the end-2008 level.
It said it would make 28 million euros ($42.2 million) in restructuring provisions starting in the fourth quarter.
News of the restructuring programme sent shares 1 percent higher to about 24.08 euros, outperforming the DJ Stoxx banks index .SX7P which was 0.3 percent lower.
Postbank said it was "seeking to further strengthen its capitalization in light of the current discussion of the new regulatory requirements in the banking sector."
The bank said it would bolster it's capital position to about 10 percent by end 2012, from eight percent at the end of September.
Efforts to force banks to hold more capital are under way globally. The Financial Stability Board, which coordinates
G20 policies, is expected to come forward with recommendations by October 2010.
Earlier this month, European Union finance ministers adopted a preliminary agreement to boost the cushion of assets banks are required to hold to offset potential losses. [ID: nLA648418]
Deutsche Postbank said it plans to use its profits in the fiscal years 2009 to 2012 to strengthen its equity base.
Onestamente questa non l 'ho capita