Deutsche Bank AG agreed to pay $26.25 million to settle a U.S. shareholder lawsuit accusing the German bank of lax oversight while doing business with risky, ultra-rich clients like Jeffrey Epstein and Russian oligarchs. The preliminary all-cash settlement filed on Friday in federal court in Manhattan requires approval by U.S. District Judge Jed Rakoff, who in June allowed the proposed class action to proceed. Shareholders led by Yun Wang, who traded Deutsche Bank stock in 2018 and 2020, claimed that the bank had known its know-your-customer and anti-money laundering controls were ineffective, and that its share price fell as problems emerged.
(Bloomberg) -- Two of Europe’s largest lenders signaled optimism that surging income from loans would more than offset the negative effect of the region’s energy crisis, as central banks hike interest rates sharply to tackle inflation. Deutsche Bank AG is on track to reach the “top end” of its revenue guidance for the year, according to Chief Financial Officer James von Moltke, while UniCredit SpA Chief Executive Officer Andrea Orcel said Thursday that the bank will give a “substantial upgrade”
NEW YORK, September 21, 2022--Deutsche Bank today announced that its New York Branch, Deutsche Bank New York (DBNY), and its affiliate Deutsche Bank Trust Company Americas (DBTCA) have increased their prime lending from 5.50% to 6.25% effective tomorrow, September 22, 2022.