Deka’s pointless secrecy | FAZ | EUROtoday

A steadiness sheet is ready in keeping with the ideas of completeness, fact and readability. An annual press convention also needs to really feel related to those values. It is true: a 12 months in the past, no journalist requested whether or not the financial savings financial institution fund firm Deka had made an extra tax fee of 500 million euros as a consequence of modified tax assessments in reference to cum-cum transactions. But should not the board have stated that by itself initiative, certainly ought to it have, if it feels dedicated to completeness, fact and readability? After all, it is half a 12 months’s revenue.

As everyone knows, you often see one another twice in life. And so the journalists, who didn’t really feel transparently knowledgeable final 12 months, used Deka’s annual press convention this 12 months to ask questions. Once once more, the financial savings financial institution fund firm failed to supply some info, such because the influence on income brought on by Cum-Cum. The query of how helpful the corporate’s certificates have been for traders may also be answered extra transparently than with the easy assertion that you just solely make the product obtainable and the purchasers already know what they’re shopping for. Anyone who has ever been to a financial savings financial institution is aware of that the securities advisor usually sells them one thing slightly than giving them recommendation.

The most astonishing factor about this secrecy is that Deka would not want it in any respect. The financial savings banks are promoting extra funds and certificates than ever earlier than; they’re clearly very happy with the product high quality and the gross sales commissions. Profitability, i.e. Deka’s income, is excessive and dividend payouts are effervescent. It can be very potential to take care of considerably extra uncomfortable subjects extra confidently, transparently and overtly.