Anshu Jain won the job of Deutsche Bank AG co-chief executive officer after leading its investment bank to record profit. Two years later that rainmaker role is coming back to haunt him.
Executives of Europe’s biggest banks are under pressure to surrender their bonuses after six companies were fined a record 1.7 billion euros ($2.3 billion) for manipulating benchmark interest rates.
Commerzbank AG, Germany’s second- largest bank, pledged to shrink at a faster pace as it reported fourth-quarter profit that exceeded analysts’ estimates. The shares climbed.
Deutsche Bank AG and Commerzbank AG, Germany’s two-biggest lenders, led declines in Germany’s benchmark DAX Index as talks on a Greek debt swap drag on.
The effort to establish a euro-area banking regulator in Frankfurt is exposing deepening fault lines among the city’s banks as policy makers jostle over the shape of the industry.
Deutsche Bank AG outperformed UBS AG and Barclays Plc in securities sales in the third quarter as it sought to shrug off Europe’s debt crisis and remain one of the top three global investment banks.
European banks climbed after Cyprus reached a deal with creditors on a 10 billion-euro ($13 billion) bailout, avoiding a disorderly default and a collapse of its banking industry.
Deutsche Bank AG will probably report a loss in the fourth quarter because of restructuring costs, missing out on a market rebound that helped profit surge at U.S. rivals such as Goldman Sachs Group Inc.
"The Europeans tend to hold back a bit on sanctions."
- Andreas Plaesier on Jul 18, 2014