Deutsche Bank CRISIS: Drop in table in latest blow for Germany's biggest lender
Industry monitor Coalition compiled their latest list of the top investment banks both regionally and globally, with Deutsche Bank falling to fourth place in the Europe, Middle East and Africa region in the second half of last year. The German lender fell behind Citigroup and Goldman Sachs — number two and three respectively – with the three banks having been ranked joint second in the first six months of 2018. JPMorgan remained the number one bank in the region, a title it has held every year since 2010. In terms of global ranking, Deutsche Bank remained in sixth place based on the strength of its US and European fixed-income businesses.
Deutsche Bank has been embroiled in an ongoing scandal over the last year, with the bank battling falling profits, a dive in shares and questions over an alleged money laundering scheme involving Danske Bank.
The German lender confirmed it had received requests for information from regulators and law enforcement agencies that are investigating Danske Bank.
A spokesman for Deutsche Bank told Reuters that it acted as a correspondent bank for Danske Bank in Estonia, but said it ended the relationship in 2015 after identifying suspicious activity.
The lender said: “There is a strong interest in the matters concerning Danske Bank Estonia among regulators globally.
“There are still no indications of misconduct on our part in this context.”
Deutsche Bank – which employed around 8,000 people in the UK – also had to contend with thousands of jobs cuts over the last few months as part of a restructuring under a new leadership after struggling to rebound after three consecutive years of losses.
It was confirmed this month that Deutsche Bank and Commerzbank have begun talks over a potential merger.
Deutsche Bank confirmed its board is involved in talks in order to “review strategic options” but moved to cool hopes a deal is definite.
The lender said: “The management board is focused on improving the growth profile and profitability of the bank.
“There is no certainty that any transaction will occur.”
Deutsche Bank has more than 20 million personal and business customers and Commerzbank around 18 million.
George Kuznetsov, head of research and analysis at Coalition, said: “We expect a challenging 2019 and a really poor first quarter with no significant recovery in fixed-income or equity trading.”
Deutsche Bank has been contacted by Express.co.uk for commment.
You may be interested
James Bond favourite Henry Cavill on 'fleshing out' Supermanadmin - Nov 27, 2021
[ad_1] When Henry Cavill came onto the scene as Clark Kent - otherwise known as Superman - in the 2013…
Elvis: Ursula Andress 'wanted him bad' during Fun In Acapulco – 'Priscilla was worried'admin - Nov 27, 2021
[ad_1] Elvis had apparently replied to Fortas' teasing over a flirtatin with Ursula: "No way, son, not with John Derek…
The Beatles: Author rejected band's request to adapt fantasy novels into musicaladmin - Nov 27, 2021
[ad_1] In 1968 The Beatles were in the midst of their excursion to India, where they worked on new music.…