The moon shines next to the headquarters of the Deutsche Bank in Frankfurt, Germany, early Sunday, Oct. 4, 2020. Money that had to be set aside to cover loans that aren’t being repaid increased 56% to 273 million euros in the quarter from the year-ago quarter, but fell from 761 million euros in the previous quarter. “We have superb talent in the company, we are able to deploy that talent to support our clients, to support the economy and also to manage the risks of a major bank through an environment like this,” von Moltke told Bloomberg. 13,361, © 2020 NYP Holdings, Inc. All Rights Reserved Deloitte interviewed staffers, combed through emails, and examined trading data. 19,005, This story has been shared 15,007 times.
By Associated Press , Wire Service Content Oct. 28, 2020 By Associated Press , Wire Service Content Oct. 28, … In October 2015, Deutsche had hired consultants from the accounting giant Deloitte to figure out what had gone wrong. When you buy through links on our site, we may earn an affiliate commission. “I think a company like ours needs to be able to pay competitively for performance such as was delivered this year,” von Moltke said in an interview with Bloomberg Television.
Help for businesses has included temporary salary support programs that pay most of workers' wages so that companies can avoid layoffs, as well as a moratorium in Germany that allowed financially troubled companies to delay filing insolvency proceedings. To those within the bank, it wasn’t news. The bank said Wednesday it made a profit of 309 million euros ($363 million) for the July to September period, in sharp contrast to an 832 million-euro loss in the same quarter a year ago when the bank had a large restructuring charge. Michael Probst/AP. It continued to shed employees, lowering headcount to 87,000 at the end of the July-September quarter from 90,000 a year earlier. If you close this box or continue browsing, we will assume you agree with this. Governments have also suspended taxes and increased deficit spending, while the European Central Bank is pouring 1.35 trillion euros in newly printed money into the economy through regular bond purchases, a step which has helped prevent turmoil on financial markets. Houston ranked among 'rattiest' cities... Mail theft cases seeing an uptick across Houston area. As a thank you, H-E-B employees are receiving a big... Houston suburb named one of America's best small cities. FRANKFURT, Germany (AP) — Deutsche Bank … Grab these best-selling makeup palettes for only $25 at... Save 50% off meals and steaks at Omaha Steaks, Save up to 50% off fall essentials at Urban Outfitters, New Chrome extension can save you hundreds, Worried about your mail-in ballot?
"The evidence so far gives cause for optimism.”. The Frankfurt-based lender may keep its overall bonus pool roughly flat at 1.9 billion euros, or $2.2 billion, but top performers could get a boost because the bank has fewer employees than it did a year ago, Bloomberg News reported.
Forced monkey labor leads Costco to ban some products, State cop banished to Canadian border amid relationship with Cuomo's daughter, Car-ma? Revenues at the investment bank unit rose 43% to 2.4 billion euros. It’s time for the Texans to trade J.J. Watt, Girl Scouts tweet, then delete post about Amy Coney Barrett, Last-minute challenge threatens to reject thousands of drive-thru votes in Harris County, Save up to 65% off these small appliances at Wayfair. Post was not sent - check your email addresses! #WhyBanksMatter â The world is changing. It doesn't get much more H-Town than this. Terms of Use Deutsche Bank plans to reward its top-performing bankers with higher bonuses this year after its investment arm helped it post a surprise third-quarter profit. The 'Be Someone' sign now says 'Elote or Die'. We've received your submission. Your Ad Choices News about Deutsche Bank A.G., including commentary and archival articles published in The New York Times. The German megabank has piled up a larger amount of money for bonuses thanks to its stronger-than-expected performance so far this year amid a corporate restructuring and the coronavirus pandemic, chief financial officer James von Moltke said Wednesday. Real time Deutsche Bank (DB) stock price quote, stock graph, news & analysis. Integrated content hub offering media releases, videos, photos, infographics, events, positions on issues of current interest etc. Here's how to check on your mail-in ballot. Deutsche Bank fined £502m over Russia money laundering claims. We got rats!
Deutsche Bank AG is planning bonus increases for top-performing investment bankers after posting a 47% rise in debt trading revenue and boosting its full-year forecast for the securities unit. Abbott allows social workers to discriminate against... As Election Day nears, Trump ponders the prospect of defeat, Fox News eyes a future with no White House fandom, Take a deep breath. Deutsche Bank plans to reward its top-performing bankers with higher bonuses this year after its investment arm helped it post a surprise third-quarter profit. Where do banks fit in. The German megabank has piled up a la… HPD Chief Art Acevedo to discuss racism on new... Houston billionaire charged with $2 billion tax... Beyoncé is one of America's richest women. Election Day is looming. Passenger shoves cyclist to her death— then fatally falls out of window, Twitter running a blackmail operation — cooperate or no traffic for you, © 2020 NYP Holdings, Inc. All Rights Reserved, Bank stocks tumble after allegations of dirty money transactions, Deutsche Bank turned over Trump financial documents to New York prosecutors, NJ federal judge took on Epstein case days before husband, son were shot, Deutsche Bank hit with $150M penalty over Jeffrey Epstein ties, Major Texas city imposes second lockdown as local hospitals reach capacity, FBI investigating Hunter Biden over money-laundering allegations: report, William and Harry's royal rift was sealed by fate — and Diana, says author. Early voting continues until 7 p.m. Oct. 30. “Our more focused business model is paying off and we see a substantial part of our revenue growth as sustainable,” Sewing said in a statement accompanying the earnings release on Wednesday. 15,007, This story has been shared 13,361 times. 23,852, This story has been shared 19,005 times. Texas state board reverses controversial Abbott... Kingwood students build tiny home for homeless veteran, Texas named second 'most hated' state in America. Germany's Deutsche Bank made a profit of 309 million euros in the third quarter. Chief financial officer James von Moltke said the government efforts to help businesses bridge the pandemic had helped. Election Day is Nov. 3. Die Deutsche Bank AG ist eine Universalbank und eines der größten Kreditinstitute Deutschlands. Von Moltke’s comments came as Deutsche reported a profit of 309 million euros ($362.6 million) for the July-to-September quarter, driven in part by a 43 percent spike in revenue from its investment bank amid a surge in trading. Third-quarter results were boosted by lower losses from the capital release unit aimed at exiting businesses and investments the bank no long considers part of its long-term strategy. For more information about the cookies we use or to find out how you can disable cookies, click. He said there was “no question it's been a supportive factor this year, for the economy as well as for the loan book.”. CEO Christian Sewing said the bank was continuing to make progress on a long-term restructuring aimed at improving profits by shedding less profitable or riskier lines of business and cutting employee numbers. Do Not Sell My Personal Information. Sorry, your blog cannot share posts by email. The bank laid the blame on Tim Wiswell, an American who ran the Deutsche Moscow trading desk. Privacy notice in accordance with the EU General Data Protection Regulation, Reporting (Annual Report, Corporate Responsibility Report & Human Resources Report), Copyright © 2020 Deutsche Bank AG, Frankfurt am Main, This website uses cookies in order to improve user experience.
Sitemap Deutsche Bank's return to financial health persists into Q3. But von Moltke said Deutsche has a strong enough balance sheet to support bigger payouts for its best staffers. Privacy Notice The moon shines next to the headquarters of the Deutsche Bank in Frankfurt, Germany, early Sunday, Oct. 4, 2020. The bank said it was on target to reach all of its financial and strategic goals included in its restructuring, aimed at exiting a period of low profitability and regulatory and legal issues that cost the bank billions. “And I think it’s sensible to be able to protect that franchise by being able to compensate our employees in line with that performance.”. FRANKFURT, Germany (AP) — Deutsche Bank reported its third straight quarterly profit amid continuing government financial help for businesses during the coronavirus pandemic and as revenues rose at its investment bank division. Thanks for contacting us. “Will this support be a sufficient bridge... through the pandemic?," he said on a conference call with journalists. These are the 10 best Texas cities for retirement. Do Not Sell My Personal Information, Your California Privacy Rights The latest breaking news, ... Deutsche Bank posts €1.9bn loss for the fourth quarter of the year. Business News. Deutsche Bank on Wednesday reported a net profit of 182 million euros ($214 million) for the third quarter, as Germany's largest lender looks to emerge from the coronavirus crisis. He added that the bank was not seeing “cliff effects” as different support measures expire. The European Central Bank has urged banks to use “extreme moderation” when doling out bonuses given the continued economic uncertainty caused by the coronavirus pandemic. for multimedia channels.
Preparing a gourmet dinner has never been easier or more affordable. This story has been shared 23,852 times. “We’re mindful of the balance we need to strike between prudence as we navigate through a very uncertain environment and, again, rewarding people for the strong performance this year.”.
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