The Munich-based Fintech Wirecard has overtaken Deutsche Bank in market capitalization. The company could soon displace another traditional bank from the DAX.
Last week, Wirecard's market capitalization reached a record high of €21.3 billion. At the same time, Deutsche Bank's share price fell, slipping below €21 billion. This made Wirecard more valuable than the Frankfurt-based banking giant with nearly 100,000 employees worldwide for the first time. One week later, Wirecard's share price rose even further, pushing its market capitalization to €22.3 billion as of midday today. The fintech, based in Aschheim near Munich, specializes in online payment processing.
Will Wirecard push Commerzbank out of the DAX?
The continued success could soon lead to Wirecard's inclusion in the DAX. A decision is expected in early September. Commerzbank could be the one to suffer from Wirecard's success. The Frankfurt-based bank has been included in Germany's most important stock index from the very beginning and could now have to cede its place to the Munich-based fintech.
Should over #Bayer and #TurkeyCrisis not to be forgotten: #Wirecard on the stock market is now worth more than the #DeutscheBank – €20.85 vs. €20.75 billion!
See you soon in the #DAX…#Fintech #Disruption #Digitization @wirecard pic.twitter.com/XlR3FRz2sM— Christian W. Röhl (@CWRoehl) August 13, 2018
A small calculation example shows the rapid development of Wirecard shares: Anyone who bought shares in Wirecard and Deutsche Bank for 1,000 euros each five years ago would now have around 7,500 euros in the case of Wirecard, but only 360 euros in the case of Deutsche Bank.
