Deutsche Bank AG’s finance chief said he expects profit at banks to rise in 2015, while UBS AG Chief Executive Officer Sergio Ermotti said Europe needs more reforms for earnings at the continent’s lenders to recover.
Deutsche Bank AG hired law firm Fried Frank Harris Shriver & Jacobson LLP in March 2010 to conduct an internal probe days after a trader alleged the bank had misrepresented the value of derivatives to mask paper losses during the financial crisis.
Deutsche Bank AG, Europe’s biggest bank by assets, is considering selling contingent convertible bonds to bolster capital at its U.S. unit should the Federal Reserve implement stricter rules for foreign banks.
Deutsche Bank AG, continental Europe’s biggest bank, will reduce its balance sheet as regulators implement stricter rules on the relation of equity to total assets, Chief Financial Officer Stefan Krause said.
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.