The largest German bank, Deutsche Bank, largely earned on the Israeli transport company Zim Integrated Shipping Services, during the Second World War Saving Jews from Holocaust, writes Bloomberg.
Starting from 2016, the Deutsche Bank trader Mark Shpön made several ZIM papers. He bought the company’s shares and bonds, and also redeemed loans issued to it at a reduced price. For most of this time, the carrier experienced problems, and his papers did not show the desired growth, while a few investors preferred to open short positions on them (selling the paper broker to buy them further cheaper), playing a decrease .
Zim is mainly engaged in container shipments, the demand for which has grown sharply in the United States and Europe in the second half of last year against the background of container shortages from Chinese transport companies. This led to an increase in the cost of shares and bonds. An additional driver has become a recent ZIM output on the NASDAQ American stock exchange.
At the moment, the potential cumulative profit of Deutsche Bank from Sipen operations is estimated at about a billion dollars.
During World War II, Zim received fame due to the fact that he transported Jewish immigrants from Germany to different countries, including the United States, saving them from the Holocaust.