FRANKFURT—Deutsche Bank CEO Christian Sewing on Thursday refused to rule out job cuts as the bank strives to lower costs, in a sign of the uncertainty facing the global financial industry as economic growth slows. Sewing, who heads Germany’s top lender that reaches from New York to Sydney, said the bank was looking to reduce…
German Finance Watchdog Fines Deutsche Bank for EURIBOR Controls
FRANKFURT—The German financial regulator BaFin on Wednesday said it had fined Deutsche Bank $10 million for controls related to the Euro Interbank Offered Rate (EURIBOR), a setback for the nation’s largest lender as it seeks to restore its reputation. The fine of 8.66 million euros ($9.77 million) is the first imposed by BaFin under a…
Deutsche Bank’s M&A Business in Fourth Quarter Extremely Strong, Executive Says
December 17, 2021
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FRANKFURT—Deutsche Bank’s merger and acquisition advisory business in the United States has been “extremely strong” in the fourth quarter, a bank executive said on Wednesday, adding that he was optimistic for 2022. Once Deutsche’s problem child, the investment bank is the lender’s biggest revenue generator, benefiting from a pandemic-induced trading boom and a wave of…
Deutsche Bank and Commerzbank Warn on Inflation; BNP Wants Growth
November 19, 2021
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FRANKFURT—The chief executives of Germany’s two top banks, Deutsche Bank and Commerzbank, warned about inflation on Friday, while the chairman of BNP Paribas said the real issue is growth. The bankers were speaking at a conference in Frankfurt as investors closely watch the European Central Bank for its reaction to accelerating inflation. Deutsche Bank CEO…
Deutsche Bank Vows Vigorous Defence in Lawsuit by Spanish Hotel Group
FRANKFURT—Deutsche Bank said on Wednesday that it would vigorously defend itself against a lawsuit by a Spanish hotel group claiming losses on derivatives products. The statement is in response to a lawsuit by Palladium Hotel Group, which according to a report in the Financial Times on Wednesday is suing Deutsche for 500 million euros ($577.45…
Stocks Correction of 5 Percent–10 Percent Likely by Year End: Deutsche Survey
LONDON—An equity market correction of 5 percent-10 percent by the end of the year was the majority prediction in a September market sentiment survey published by Deutsche Bank on Monday, in the latest sign of market caution that the equity bull run will end. According to the report, conducted from Sept. 7–9 and covering over…
Deutsche Telekom Lifts T-Mobile US Stake in Softbank Swap Deal
September 7, 2021
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BERLIN/TOKYO—Deutsche Telekom has struck a share-swap deal with Softbank Group to increase its stake in U.S. unit T-Mobile and sold its Dutch unit in a major restructuring that strengthens the German group’s transatlantic focus. As a result of the two deals announced on Tuesday, Deutsche Telekom will raise its stake in T-Mobile US by 5.3…
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