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Deutsche Bank AG (DB)

  • Mar. 26, 2013, 4:49 PM
    S&P says it may downgrade Deutsche Bank (DB) following the firm's downward revision to last year's profit. S&P predicts legal and regulatory woes will continue to plague the bank and notes DB's capitalization remains below that of its peer group. 
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  • Mar. 24, 2013, 10:52 AM
    Der Spiegel says ~€300M of the €600M Deutsche Bank (DB) retroactively set aside for litigation in 2012 may be linked to violations of U.S. sanctions on Iran. The bank restated its 2012 profit Wednesday after inexplicably increasing "litigation provisions". It now appears the move "could be a sign U.S. investigations of possible Iran-linked transactions [have] reached an advanced stage." (Earlier: DB chief takes pay cut)
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  • Mar. 24, 2013, 5:07 AM
    Here's a banking boss with good political instincts: in a move that cost him almost €2M, Deutsche Bank (DB) co-CEO Anshu Jain reportedly asked the firm's supervisory board not to give him part of his 2012 bonus so that his compensation would be in line with that of fellow chief Juergen Fitschen. On Friday, Deutsche Bank said it was docking Jain's and Fitschen's pay after the company was forced to restate 2012 earnings.
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  • Mar. 21, 2013, 5:47 AM
    Deutsche Bank's (DB) performance in Q1 has been "robust" across all its businesses, co-CEO Anshu Jain says, due to strong market volumes, less volatility, rising shares and growth in corporate activity. Deutsche Bank has also made progress in reducing costs and risks. Jain's comments come after the bank yesterday it was cutting Q4 profit due to increased legal and regulatory provisions. Shares +0.8%.
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  • Mar. 20, 2013, 4:30 AM
    Deutsche Bank (DB) has revised down its 2012 net profit to €300M from €700M after it increased its litigation reserves by 33% to €2.4B due to unspecified lawsuits related to U.S. mortgages and unrelated regulatory inquiries. Deutsche, which also cuts its pretax profit to €800M from €1.4B, has been named in a Freddie Mac lawsuit over Libor manipulation. (PR)
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  • Mar. 20, 2013, 3:56 AM
    Freddie Mac (FMCC.OB) has sued Bank of America (BAC) JPMorgan (JPM), Citigroup (C) and 12 other major banks for losses caused by the manipulation of the Libor rate. Freddie, which invested in mortgage bonds and swaps tied to U.S. dollar Libor, is seeking a whole gamut of damages for what it sees as fraud, antitrust violations and breach of contract. The FHFA has already calculated that Freddie and Fannie Mae lost $3B in total because of the Libor manipulation.
  • Mar. 19, 2013, 2:48 PM
    There's another defection from a major bank to the potentially more lucrative world of P-E as Deutsche Bank's (DB) U.S. investment bank CEO Richard Byrne departs to join Providence Equity Partners (started by a DB alum in 2008).
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  • Mar. 18, 2013, 5:10 AM
    European bank shares slide following news of the levy on deposits in Cyprus, which has prompted concerns of a run on banks elsewhere in the eurozone. The Stoxx Europe 600 Banks index -2.1%. In Madrid, BBVA -3.7%; in Milan, Banca Popolare di Milano -3.9%, Intesa Sanpaolo -3.3%, Mediobanca -4.6%, Banca Monte dei Paschi di Siena -3.8%. In Paris, SocGen -4.2%, Credit Agricole -2.9%, BNP Paribas -3.3%. In Frankfurt, Deutsche Bank (DB) -2.8%.
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  • Mar. 18, 2013, 4:01 AM
    DB announces a halt in new creations on 26 ETNs it is the indexer or issuer on (effective 3/29), meaning the potential for the notes to trade at significant premiums to NAV as redemptions will still be available. DB expects to resume creations by mid-April. The affected notes follow: BDD, BDG, BOM, BOS, BUNL, BUNT, DEFL, DGP, DGZ, DOD, DTO, DZZ, INFL, ITLT, ITLY, JGBD, JGBL, JGBS, JGBT, LBND, OLO, SBND, SZO, UDNT, UUPT, WMW.
  • Mar. 13, 2013, 5:25 PM
    Moving on from Libor, the CFTC is reportedly having an informal look at whether the London fix for gold and silver is open to manipulation. Gold prices are set twice daily by five banks via teleconference (silver by 3), with the fixings then used worldwide as benchmarks for any number of transactions. The banks involved: BCS, DB, HBC, BNS, SCGLY.PK.
  • Mar. 1, 2013, 9:10 AM
    Premarket gainers: ISRG +9%. SHS +8%. CERS +8%. DECK +8%. SQNM +7%. BBY +6%. PGH +5%.
    Losers: AT -34%. FWLT -17%. OVTI -15%. RNIN -14%. IEP -12%. ENMD -12%. YOKU -11%. SD -8%. LYG -8%. CWH -6%. RBS -6%. DB -5%.
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  • Mar. 1, 2013, 8:32 AM
    Deutsche Bank (DB) dives 6.1% premarket as Goldman cuts it to Sell, thanks to new capital rules which could force the bank to transfer $13B to its U.S. unit. The move would deplete Deutsche's non-U.S. capital, increasing the need for a capital raise. "The impact on Deutsche Bank's profit could be substantial."
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  • Feb. 22, 2013, 3:04 AM
    EU regulators are reportedly looking at reaching a settlement with banks over the rigging over inter-bank interest rates, although some firms don't want to open talks, as they believe that allegations of wrongdoing have no merit. The EU is carrying out three separate probes into at least a dozen banks and inter-dealer brokers.
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  • Feb. 20, 2013, 12:39 PM
    Deutsche Bank's (DB) real estate unit is in talks to sell its stake in France's department store group Le Printemps to Italy's Borletti Group and Qatari investors. 
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  • Feb. 15, 2013, 7:38 AM
    "The Goldilocks era of post-crisis M&A has never been an if, but a when," says JPMorgan (JPM) vice-chair James Lee. "CEOs are declaring that day has come." Including the Berkshire buy, $40B in deals were announced yesterday and $140B this month. Transaction volume is up 27% Y/Y vs. an 8% slump for 2012. It should mean sweet profits for the newly lean banks.
  • Feb. 1, 2013, 7:58 AM
    Deutsche Bank (DB) reportedly will impose a €300K ($409K) cap on bonuses this year, with up to €150K being in immediate cash and the rest available in a few months as stock. Cash was capped at €200K last year. The new CEOs "kitchen-sinked" the quarter yesterday, taking a major loss thanks to restructuring charges. Shares rose 2.5% and are +1.2% premarket today. 
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Company Description
Deutsche Bank AG is an investment bank. It offers investment, financial and related products and services to private individuals, corporate entities and institutional clients around the world.
Sector: Financial
Country: Germany