30. September 2020 | 10:42 CET
Commerzbank, Deutsche Bank, Bigg Digital Assets: Getting off to a good start after a lean period
October 2020 will be uncomfortable for many entrepreneurs and banks in Germany. The reason for this is that the German government's special regulation in connection with the Corona Pandemic is expiring, and insolvent companies will have to file for bankruptcy. The aforementioned occurs when 10% of a company's liabilities cannot be paid within three weeks. But there are also rays of hope.
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ISIN: CA0898041086 , DE000CBK1001 , DE0005140008
BIGG DIGITAL ASSETS INC - New contract with US authorities
Bigg Digital Assets' management has stated that it believes that the future of cryptocurrencies is dependent on a secure and regulated environment. For this reason, the company focused on developing solutions and products that complement the blockchain ecosystem.
In this context, the Blockchain Intelligence Group division provides search and analysis tools to support, for example, government agencies in their work. The Qlue product enables transactions with cryptocurrencies to be visually reconstructed, tracked, and monitored at a forensic level. The BitRank Verified product offers, for example, online shop operators the possibility of real-time risk assessments of cryptocurrencies to reject amounts from dubious sources. Bigg Digital's product range is able to meet the ever-increasing requirements of authorities and corporate internal guidelines.
With its Netcoins division, the company provides brokerage and stock exchange software for buying and selling cryptocurrencies. BitRank is used as the core of this platform, enabling easy trading of digital currencies for the mass market. Bigg Digital Assets shares have been on an upward trend for several weeks and have already managed to move significantly away from their lows. The company regularly receives orders from US federal authorities.
COMMERZBANK AG - Popular Ex-DAX Company
Commerzbank was part of the DAX family for many decades and was a renowned financial institution on the German market and in international competition. Since the financial crisis in 2008, much has changed at the bank. The company has been able to survive thanks to state support and has been downsized significantly. While innovative FinTechs were on the advance and attracted new business, Commerzbank was on the retreat in many areas.
The Comdirect division is of growing importance, which above all gives the company access to new generations who can do without a branch business. However, business with business customers is based primarily on personal contact with the customer. Personal competence and experience are in demand, especially in the coming weeks, when insolvency and over-indebtedness issues at companies in connection with the Corona Pandemic make further steps necessary.
DEUTSCHE BANK AG - Somehow always there
For a long time, Deutsche Bank was considered the German figurehead in the international financial world. The largest German private bank still maintains branches around the globe and excellent business relations with renowned clients in all areas. However, with a market value of less than EUR 15 billion, the company is now only a shadow of its former self.
Many deals, many scandals, this is how the events of the past years can be summarised. The outcome of business relations with the incumbent US President Donald Trump, whose economic situation has been the subject of public speculation for some time, will also be exciting. Whether and when the bank will return to its former size is an open question. JP Morgen was able to achieve a record profit of USD 36.4 billion in 2019, which is twice the current market capitalisation of Deutsche Bank.