Deutsche Bank Faces Up To Long Battle To Restore Reputation

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Deutsche Bank Faces Up To Long Battle To Restore Reputation

by Wochit 1:00 mins

Deutsche Bank Faces Up To Long Battle To Restore Reputation

by Wochit 1:00 mins

The reputational risks surrounding Deutsche Bank have grown and it still has some way to go to win back public trust and prove it can overhaul its corporate culture, the bank's two chief executives said on Wednesday. Germany's largest lender is facing an array of investigations into the conduct of its employees and a jump in litigation costs was partly responsible for a surprise 1 billion euro (or $1.37 billion) fourth-quarter loss that has heaped more pressure on Anshu Jain and Juergen Fitschen. Deutsche Bank paid about 2.1 billion euros in fines in December, but fresh investigations - including one into possible manipulation of the $5.3 trillion-a-day foreign exchange market - have led analysts and investors to forecast an additional 1.4 billion to 2 billion euros in settlement costs for 2014 and 2015.

Wochit

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