DWS to pay $25m to end US probe into greenwashing September 25, 2023 Deutsche Bank-controlled (DBKGn.DE) investment firm DWS will pay $25 million to settle charges over misstatements regarding its environmental, social, and governance (ESG) investing and failures in policies designed to prevent money laundering, U.S. regulators said on Monday.
DWS in advanced talks with SEC to resolve greenwashing investigation July 26, 2023 DWS, the German fund manager controlled by Deutsche Bank, said on Wednesday it was engaged in advanced resolution discussions with the US SEC to resolve their ESG investigation, which has been hanging over the company for two years. The firm booked €21m in provisions regarding regulatory matters during the first half of the year. Since [...]
Deutsche Bank flags cost cuts as investment bank slump lowers profit July 26, 2023 Deutsche Bank on Wednesday posted a 27 per cent fall in second-quarter profit as investment banking revenue slumped and warned of the need for cost cuts even though higher interest rates fuelled gains at its retail division. The German lender downgraded its outlook for the investment bank, saying it now expected revenues to be slightly lower [...]
US Fed fines Deutsche Bank $186m over failure to improve money laundering checks July 20, 2023 The Federal Reserve said on Wednesday it fined Deutsche Bank and its U.S. affiliates $186m for failing to sufficiently address money laundering control problems and other shortcomings previously flagged by the U.S. central bank. The new penalty for lingering issues marks the latest blow for the German lender, which has struggled for years to get on [...]
Numis struggles with IPO shutdown ahead of takeover by Deutsche Bank July 5, 2023 Numis struggled with the “effective closure” of the IPO market in the third quarter, with revenue falling ahead of the bank’s takeover by Deutsche Bank. The London-based investment bank said revenue in the three months to the end of June came in below the first half, reflecting the “deteriorating market backdrop” across investment banking. Although [...]
Streamline tax rules to stop Paris ‘biting’ the City’s heels, Deutsche Bank’s UK head warns June 29, 2023 The UK should reconsider the high rate of tax it charges on banks and financial services firms to boost London’s standing, Deutsche Bank’s UK head said. Speaking at The City UK’s annual conference, Tiina Lee, who has been in the role for nearly five years, said “the one area to highlight” in regards to the [...]
Deutsche Bank’s Numis acquisition a step closer to completion following AGM June 21, 2023 Numis shareholders waved through Deutsche Bank’s takeover offer in its annual general meeting today. The vote passed through the court meeting with nearly 98 per cent support and secured the approval of over 99.9 per cent of shareholders at the AGM. The scheme empowers the board to take all necessary actions to complete the deal. [...]
Deutsche Bank to pay $75m to settle lawsuit by Jeffrey Epstein accusers May 18, 2023 Deutsche Bank has agreed to pay $75m to settle a lawsuit by women who say they were abused by the late financier Jeffrey Epstein, and accused the German bank of facilitating his sex trafficking. The accord resolves claims in a proposed class action in Manhattan federal court by Epstein’s accusers, and was confirmed by their [...]
Deutsche Bank posts best profit in a decade but warns 800 job cuts as cost cutting continues April 27, 2023 Deutsche Bank recorded its best profit in a decade as the bank recorded its 11th consecutive quarter of profit but signalled there would be more job cuts as it continues its restructuring efforts. Pretax profit climbed 12 per cent to €1.9bn (£1.68bn), up from €1.7bn (£1.5bn) last year with a strong performance from the corporate [...]
Deutsche Bank ‘de-risking’ Russian IT operations April 12, 2023 Deutsche Bank is looking for ways to minimise business disruption as it reduces risks from its Russian technology operations in line with the law, Germany’s biggest lender said on Wednesday. The comments by a bank spokesperson followed a report in the Financial Times that the bank was winding down its remaining software technology operations in Moscow [...]