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  • Fri, Dec. 2, 12:30 PM
    • Deutsche Bank (DB -1.9%) "with immediate effect" will stop providing some coverage for about 3.4K actively trading clients in its global markets division, reports the WSJ, citing an internal memo.
    • The move, says the memo, follows a review of the trading division "to identify clients with whom it is not strategically viable for us to continue to do business."
    | Fri, Dec. 2, 12:30 PM
  • Thu, Nov. 24, 2:05 AM
    • A group of U.S. lawmakers is reportedly warning that President-elect Donald Trump could provide special protection for Deutsche Bank (NYSE:DB).
    • According to WSJ, some House Democrats say he will have "ample opportunity to influence policy decisions," including the DOJ's proposed $14B fine.
    • In a letter sent to financial watchdogs lawmakers claim the German institution is the only major Wall Street bank that has continued to lend to Trump Inc.
    | Thu, Nov. 24, 2:05 AM | 38 Comments
  • Thu, Nov. 17, 6:14 AM
    • Deutsche Bank (NYSE:DB) is going back on its promises of bonuses made to six former executives, according to Suddeutsche Zeitung, which quoted a double-digit multi-million euro figure.
    • Those set to be affected include former CEO Josef Ackermann and former co-chief Executives Anshu Jain and Jurgen Fischen.
    • The three others involved are said to be former board members Hermann-Josef Lamberti, Michael Cohrs and Hugo Banziger.
    | Thu, Nov. 17, 6:14 AM | 4 Comments
  • Wed, Nov. 16, 6:37 AM
    • Germany's banks are robust but suffer from weak profitability and may be underestimating the risk of falling asset prices or rising interest rates, the Bundesbank said in its latest stability review.
    • Although the eurozone's largest economy has driven the bloc's recovery in recent years, German economic growth has slowed in recent quarters, and concern is mounting about the weak profitability of its vast but inefficient banking sector.
    | Wed, Nov. 16, 6:37 AM | 4 Comments
  • Fri, Nov. 11, 8:26 AM
    • "Some Democrat appointments at the DOJ have only a few weeks left before they are replaced," says Barclays, laying out a bullish case for European lenders who are likely to face smaller mortgage-related settlements.
    • Chief among them is Deutsche Bank (NYSE:DB), which has been staggered by reports that Obama's DOJ wants $14B to walk away.
    • Also in talks with Justice are Credit Suisse (NYSE:CS) and RBS. Under investigation, but not necessarily in settlement discussions yet are Barclays (NYSE:BCS), UBS, and HSBC.
    | Fri, Nov. 11, 8:26 AM | 15 Comments
  • Wed, Nov. 9, 4:19 AM
    • Donald Trump's victory throws into question the core assumption the Fed will raise interest rates soon and follow with further gradual hikes over coming years.
    • Banks are struggling on the news. Fed Funds futures are now pricing in less than a 50% chance of a December move and the ECB is likely to interpret the uncertainty with stimulus and lower rates for longer.
    • Premarket movement: GS -8.3%, WFC -3.5%, C -3.2%, BAC -2.4%, CS -2.3% JPM -2.2%, LYG -1.8%, HSBC -1.7%, USB -1.4%, BCS -1.5%, ING -0.6%, MS, DB, RBS, UBS
    • #Election2016
    | Wed, Nov. 9, 4:19 AM | 128 Comments
  • Tue, Nov. 8, 8:29 AM
    • JPMorgan (NYSE:JPM) and Deutsche Bank (NYSE:DB) both passed on selling shares of Uber (Private:UBER) to their high-net worth clients because the ride-share company wasn't willing to provide financial details about its business.
    • The banks were concerned they wouldn't be able to sell the shares given the lack of specifics, according to Bloomberg.
    • Bank of America (NYSE:BAC) and Morgan Stanley (NYSE:MS) ended up selling the shares earlier this year through their own wealth management units.
    | Tue, Nov. 8, 8:29 AM | 8 Comments
  • Tue, Nov. 8, 3:04 AM
    • The SEC is looking into whether big banks have been mishandling securities in the arcane but sizable market for American depositary receipts, WSJ reports.
    • The agency already sent subpoenas to four depositary banks - BNY Mellon (NYSE:BK), Citigroup (NYSE:C), Deutsche Bank (NYSE:DB) and JPMorgan (NYSE:JPM) - as it examines whether the institutions broke controls designed to prevent market abuse and tax fraud.
    | Tue, Nov. 8, 3:04 AM | 18 Comments
  • Mon, Nov. 7, 9:17 AM
    | Mon, Nov. 7, 9:17 AM | 4 Comments
  • Fri, Nov. 4, 12:42 PM
    • Deutsche Bank (NYSE:DB) is planning on moving at least half of its back-office staff in London's main financial district to Canary Wharf, reports Bloomberg. The opened up space is then to be subleased.
    • The move is in addition to an earlier plan to relocate workers in several London offices to Canary Wharf.
    • Brexit may be part of it, but lenders even before the vote were cutting back in London's main financial districts. Barclays and Citigroup are also among those looking to sublet their previously used office space in London.
    | Fri, Nov. 4, 12:42 PM | 3 Comments
  • Fri, Nov. 4, 2:37 AM
    • Fitch puts Deutsche Bank's (NYSE:DB) A- Long-Term Issuer Default Rating ("IDR"), 'F1' Short-Term IDR and 'a-' Viability Rating ("VR") and its debt ratings on Rating Watch Negative ("RWN").
    • Says the challenges posed by a sluggish business environment, particularly in Europe but also in Asia Pacific, will make it harder for Deutsche Bank to build revenue and, therefore, capital during 2017 in line with its 2020 strategy. The ratings could also be downgraded if there are material setbacks to the planned capital trajectory due to incremental litigation and regulatory charges.
    • Fitch expects to resolve the RWN at the latest after the bank's Q1 2017 earnings are published. "We expect the first quarter of next year to bring some transparency into the effectiveness of the bank's cost-cutting and restructuring measures as well as into its ability to defend its franchise and generate revenue in line with Global Trading and Universal Bank ("GTUB") peers. We also believe that the bank could have resolved some of its significant outstanding misconduct and litigation by then.
    • Source
    | Fri, Nov. 4, 2:37 AM | 11 Comments
  • Thu, Nov. 3, 12:49 PM
    • So says board member Christian Sewing sitting on a panel at a Hamburg conference. While a settlement would certainly remove a good deal of uncertainty from hanging over Deutsche Bank (DB -0.1%), it could also be crippling if it's somewhere in the area of the $14B that's been floated. The bank currently has about $6.5B in litigation reserves.
    • Source: Bloomberg
    | Thu, Nov. 3, 12:49 PM | 8 Comments
  • Mon, Oct. 31, 7:28 AM
    • It's just spit in the ocean compared to the money Deutsche Bank (NYSE:DB) might have to raise in order pay what could be a multibillion-dollar settlement with the DOJ, but the bank last week disclosed its intension to sell its entire 16.9% stake in Red Rock Resorts (NYSE:RRR). The move comes just after the expiration of the 180-day, post-IPO lockup period.
    • At Red Rock's closing price on Friday, the sale would raise $440M for Deutsche, which also hopes to soon close a sale of Maher Terminals, a NJ container-shipping business,
    | Mon, Oct. 31, 7:28 AM
  • Thu, Oct. 27, 2:19 AM
    • Surprise! Deutsche Bank (NYSE:DB) reported a third-quarter profit on lower than estimated litigation and restructuring costs, but set aside an additional €501M as it "works hard" to settle a mortgage probe with the DOJ.
    • Net income came in at €256M compared with a €6B loss in the year-earlier period.
    • Deutsche also agreed sell its Mexico units to InvestaBank, an exit that is part of CEO John Cryan's plan to revive the struggling German lender.
    | Thu, Oct. 27, 2:19 AM
  • Tue, Oct. 25, 9:00 AM
    • Unable to find a buyer for Postbank, the Deutsche Bank (NYSE:DB) board this week is set to discuss other alternatives for the retail operation, including its full integration into the parent.
    • That Postbank was going to be a hard sell isn't news, and chatter that Deutsche needed to get "creative" with what it might do has been around for months.
    • Shares -2.8% premarket
    | Tue, Oct. 25, 9:00 AM
  • Tue, Oct. 25, 3:14 AM
    • A series of huge DOJ fines on Barclays (NYSE:BCS), Credit Suisse (NYSE:CS) and Deutsche Bank (NYSE:DB) for mis-selling mortgage securities could be postponed until after next month's presidential election, Sky News reports.
    • The delay also means RBS will likely have to account for the majority of a fine in its 2017 results, making it virtually certain that the bank will record its tenth consecutive annual loss.
    | Tue, Oct. 25, 3:14 AM | 8 Comments