A picture from the past: Deutsche Bank recently invited shareholders to a face-to-face meeting in May 2019.
(Photo: dpa)
Frankfurt Deutsche Bank will again refrain from holding a general meeting in person this year. When asked by the Handelsblatt, a spokesman for the bank confirmed that the institute wanted to hold this year’s shareholder meeting again virtually.
The decision against an on-site general meeting is likely to disappoint some investors. Even when the Handelsblatt first reported in November that such a decision was in the offing at the institute, it caused criticism. “Even if the virtual general meeting of Deutsche Bank was exemplary, I am a clear fan of face-to-face events,” Klaus Nieding, Vice President of the German Protection Association for Securities Ownership (DSW), said at the time.
>>Read here: Only seven Dax companies are sure to hold their 2023 shareholder meetings again in person
With its decision, Deutsche Bank is following the example of many other large German stock exchange groups. In a Handelsblatt survey published at the beginning of the year, 17 companies listed in the German stock index (Dax) indicated that they were planning a virtual event, only seven Dax companies wanted to hold a face-to-face meeting. At that time, Deutsche Bank was still one of the ten companies that had not yet made a formal decision.
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Annual General Meetings were always held in attendance until 2020. Only when the pandemic broke out did the federal government make it possible to hold purely digital meetings. In this way, the 14,000 stock corporations in Germany were able to hold their annual meetings in a legally secure manner despite contact restrictions.
More: Deutsche Bank will probably hold the Annual General Meeting again virtually – who will chair the shareholders’ meeting?