Deutsche Bank AG, seeking to raise $11.6 billion of capital, braced investors for a deepening trading slump and potential damage to its business from international probes of currency rigging and hiring practices.
Deutsche Bank AG is betting its 8 billion-euro ($11 billion) capital increase will help it grab market share in fixed income as a slump in trading prompts competitors including Barclays Plc to retreat.
Barclays Plc reported full-year profit that missed analyst estimates as litigation and compensation charges complicated Chief Executive Officer Antony Jenkins’s overhaul of Britain's second-biggest bank by assets.
Lloyds Banking Group Plc, Britain’s biggest mortgage lender, posted its fourth consecutive annual loss after earmarking 3.5 billion pounds ($5.8 billion) to compensate clients mis-sold products including loan insurance.
Three million of Pakistan’s richest income tax evaders will get 90 days to take up a government amnesty offer after which they will be hounded by inspectors under the nation’s most ambitious plan to improve its finances.
European Union banks have shed more than $1.1 trillion of assets since the end of 2011 in a shift away from risky investments such as asset-backed debt as regulators push lenders to shore up their balance sheets.
HSBC Holdings Plc, Europe’s biggest bank, slid in London and Hong Kong trading after profit missed analysts’ estimates and Chief Executive Officer Stuart Gulliver said fast-growing emerging markets are slowing.