Deutsche Bank continues to be profitable in Q2 but issues an economic alert
Previously, it was seen that Drew Goldman, head of global corporate finance coverage and advice at Deutsche Bank, will retire and be succeeded by regional leaders, according to a message that was sent on Monday. A quick recap shows that according to the message issued by Mark Fedorcik, the co-leader of the investment banking division, Goldman,…
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Credit Suisse on redeeming AT1 bond, and attempt at repaying debt
Credit Suisse (CSGN.S) has been the hotspot of controversy for a while now, it had chosen to reel investors in for a more expensive dollar bond just to reimburse a $1.5 billion capital-hiking distribution. A marginal number of investors deemed the act the right call to evade raising suspicions over its credibility in paying back…
Deutsche Bank not financial controversial African oil pipeline
Deutsche Bank is not financing a pipeline in Africa that environmental campaigners have said will displace thousands of families and disrupt nature reserves, a person with knowledge of the matter said. Germany’s largest lender has come under pressure to clarify its stance on the financing of the planned $3.5 billion East African Crude Oil Pipeline. Deutsche…
Deutsche bank to wind down Russia
Deutsche Bank which faced stinging criticism from some investors and politicians for its ongoing ties to Russia, said that it would wind down its business in the country. Deutsche joins the ranks of Goldman Sachs and JPMorgan Chase, which were the first major U.S. banks to exit after Moscow’s invasion of Ukraine. Those moves put pressure…
Fed rate view brightens European bank stock outlook
European bank shares rose further above a three-year high, boosted by the U.S. Federal Reserve’s signal that it could raise rates faster than expected. This lifted some of the December gloom hanging over the sector. European banking stocks benefitted from a sharp rise in borrowing costs after minutes of the Fed meeting release showed officials…
Deutsche bank market share shrinks in some areas
Deutsche Bank ‘s investment banking arm lost market share across an array of key services in the second quarter. This is collected from the data of Dealogic. Its investment bank, the group’s biggest revenue generator, drove the institution to its strongest quarter in seven years at the start of 2021. However, investors have wondered how sustainable progress will…
Deutsche bank raising amount paid to junior bankers
German lender Deutsche Bank AG is raising the amount it pays investment banking analysts. The bank will now pay first and second-year analysts in its origination and advisory arms $100,000 and $105,000, respectively. U.S. analysts being promoted to the associate level midyear will see their pay rise by $25,000 to $150,000. Globally, analysts and those being promoted to associate will…
Deutsche Bank taps Oracle to simplify its IT, cut costs
A Deutsche Bank board member said that the Bank has tapped software firm Oracle to simplify its information technology systems, enabling Germany’s top lender to cut costs. For modernizing its computer systems, the Deutsche bank has spent many years. Former Chief Executive John Cryan had publicly called it lousy, because of the troubles called by this. The…