Tag: Deutsche Bank
Deutsche Bank is found to have violated US corruption laws by hiring relatives of foreign government officials to win or retain business.
Shares of Germany’s largest bank slump with investors pondering the headwinds for the company as it embarks on the biggest cutbacks yet to its battered investment bank.
The investigation reviewed cases of financial crime that led to fines or financial settlements at some of EU's largest banks, like Deutsche Bank and France's Societe Generale.
Deutsche Bank settles the lawsuit for US$197 million with no admission of liability.
The US Department of Justice is looking into whether Deutsche Bank might have violated foreign-corruption or anti-money-laundering laws as it helped 1MDB raise US$1.2 billion in 2014.
Deutsche Bank in the wake of Jeffrey Epstein's sex trafficking charge severed ties with the billionaire a year ago.
Siasatan ke atas 1MDB tertumpu terutamanya ke atas wang berjumlah AS$6 bilion yang diperolehinya pada 2012 dan 2013.
Bonuses will still be rewarded to employees despite Deutsche Bank fourth annual loss in five years.
Deutsche Bank plans to cut more jobs in Asia and reduce it to another 25% by month end.
The bank will also scrap its global equities business and scale back its investment bank.
Deutsche Bank expects to stop offering the trading of cash equities, equities research and may no longer underwrite initial public offerings in the region.
Several senior executives are expected to depart as part of the reorganisation.
The bank's shares, which have hit record lows in June, have perked up on expectations that a major overhaul is underway.
Deutsche Bank is one of the few lenders to keep US President Donald Trump afloat after his repeated bankruptcies in the 1990s.
Major investors over the past week have called for Deutsche to scale back its sprawling global investment banking unit.
Congressional and New York state authorities have already been investigating the relationship between Trump, his family and Deutsche Bank.
Panama Papers-fueled German probe at Deutsche Bank AG prompted numerous raids in Frankfurt targeting wealthy individuals who may have hidden money offshore.
Both the banks' CEOs say a deal would not have created sufficient benefits to offset the risks and costs of a merger.
The merger talks have come amid stiff resistance from unions and employees.
Deutsche Bank and Commerzbank started formal merger negotiations last month.
The Commerzbank share price, or the price offered in any takeover deal, would have to be some 26 euros to avoid a loss for the state.
Qatari investors, who own more than 6% of Deutsche Bank, are concerned that a deal would dilute their holdings.
While there’s no formal mandate to pursue a merger and other options are still being considered, Deutsche Bank CEO Christian Sewing has given up his resistance to doing a deal this year.
Speculation about a possible merger has continued despite the bank's dismissal in September.
12Page 1 of 2