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.
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.
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.
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.
Commerzbank AG, Germany’s second- biggest bank, will boost core Tier 1 capital by 776 million euros ($1.02 billion) in the first half after swapping hybrid capital instruments for new shares.
Commerzbank AG , Germany’s second- largest bank, may post a profit for the second quarter as it set aside less money for bad loans and trading income increased.
"Their debt trading revenues are under pressure along with other investment banks."
- Andreas Plaesier on Oct 28, 2013