DB - Deutsche Bank Aktiengesellschaft

NYSE - NYSE Delayed Price. Currency in USD
6.97
-0.20 (-2.79%)
At close: 4:02PM EDT
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Previous Close7.17
Open7.09
Bid6.96 x 21500
Ask7.09 x 38800
Day's Range6.96 - 7.16
52 Week Range6.44 - 12.52
Volume6,244,940
Avg. Volume6,514,600
Market Cap14.402B
Beta (3Y Monthly)1.53
PE Ratio (TTM)N/A
EPS (TTM)-1.12
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend Date2017-05-19
1y Target Est5.70
Trade prices are not sourced from all markets
  • Deutsche Bank SEC Case Shows ‘Classic’ Nepotism in Russian Hires
    Bloomberg

    Deutsche Bank SEC Case Shows ‘Classic’ Nepotism in Russian Hires

    (Bloomberg) -- Deutsche Bank AG executives were outraged. They had just missed out on a major deal with the Russian government and wanted answers.“We must use whatever tactic and political pressure to avoid this embarrassment,” a senior banker in London wrote in an email to the firm’s top executive in Russia. “DB not participating is a slap in our face.”The solution that Deutsche Bank allegedly came up with: permanently hiring the daughter of Dmitry Pankin, a Russian deputy finance minister. Up to that point, Pankin’s daughter Elena Arkhangelskaya had been a temporary employee.Within days of Arkhangelskaya landing a permanent position, Pankin asked Deutsche Bank to submit a proposal on a $2.2 billion bond sale. Soon after, Pankin and his daughter joined the firm’s Russia head on a vacation, going hunting, fishing and enjoying helicopter rides. Deutsche Bank, which falsely documented the trip as a legitimate business expense, scored the bond deal.Fraught RelationshipThe incident from around 2009 was revealed Thursday in a settlement with the U.S. Securities and Exchange Commission, which accused Deutsche Bank of violating anti-bribery laws. The allegations add another chapter to the Frankfurt-based bank’s fraught relationship with Russia. Its aggressive pursuit of business in the country has resulted in hundreds of millions of dollars in fines, congressional probes and seemingly endless compliance headaches.Read More: Deutsche Bank’s U.S. Unit Kept Danske’s Shady Billions FlowingIn the accord with the SEC, Deutsche Bank agreed to pay $16.2 million without admitting or denying any wrongdoing. While the SEC’s order didn’t name any individuals, three people with direct knowledge of the matter said those described in the case include Pankin and Arkhangelskaya.“Deutsche Bank provided substantial cooperation to the SEC in its inquiry and has implemented numerous remedial measures to improve the bank’s hiring practices,” bank spokesman Troy Gravitt said in an email statement.Arkhangelskaya didn’t respond to an email seeking comment.Illicit HiresDeutsche Bank is far from the first firm punished for allegedly making illegal hires overseas to win business -- JPMorgan Chase & Co. was penalized $264 million in 2016 over similar claims and Credit Suisse Group AG agreed to pay $77 million almost two years later. But Deutsche Bank is the first firm accused of such misconduct involving Russia.The country has long been a source of scandal for Deutsche Bank. In 2017, the bank paid more than $670 million to U.S. and U.K. authorities over claims that it helped rich Russians move $10 billion out of their country through so-called mirror trades -- simultaneous stock trades in separate jurisdictions that bypassed customary hoops for transferring money.And the Democrat-led House Financial Services Committee has opened a broad investigation into Deutsche Bank’s dealings with Russia and loans the bank made to President Donald Trump’s business empire.The hiring outlined in the SEC case, which also involved alleged wrongdoing in China, lasted from at least 2006 through 2014.Firm LiabilityDeutsche Bank employees created false books and records that concealed corrupt hiring practices, according to the SEC. Individuals who were offered jobs typically bypassed the bank’s highly competitive and merit-based process, which required that they have high grades in school and went through multiple rounds of interviews.One Russian hire who worked in London performed so badly that a human resources employee deemed him “a liability to the reputation of the program, if not the firm,” the SEC said. The employee, the son of a senior executive of a Russian state-owned entity, failed to show up for work and was accused of cheating on an exam.“The classic nepo situation that we have every year,” the Deutsche Bank human resources employee wrote in an email to another worker.To contact the reporters on this story: Matt Robinson in New York at mrobinson55@bloomberg.net;Jake Rudnitsky in Moscow at jrudnitsky@bloomberg.netTo contact the editors responsible for this story: Jesse Westbrook at jwestbrook1@bloomberg.net, Michael J. MooreFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Deutsche Bank (DB) Down 9.2% Since Last Earnings Report: Can It Rebound?
    Zacks

    Deutsche Bank (DB) Down 9.2% Since Last Earnings Report: Can It Rebound?

    Deutsche Bank (DB) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.

  • Financial Times

    FirstFT: Today’s top stories

    FT subscribers can  click here to receive FirstFT every day by email. Scrutiny of Facebook’s Libra digital currency has  spooked some of the project’s early backers , with at least three privately discussing ...

  • Deutsche to Pay $16.2M to Settle Foreign Corruption Charges
    Zacks

    Deutsche to Pay $16.2M to Settle Foreign Corruption Charges

    Deutsche Bank (DB) agrees to pay settlement charges despite not admitting or denying the allegations regarding violation of the Foreign Corrupt Practices Act.

  • Reuters

    UPDATE 1-Deutsche Bank to transfer up to 800 to BNP in prime brokerage deal - source

    FRANKFURT/PARIS, Aug 23 (Reuters) - A deal in the works for BNP Paribas to assume the prime brokerage operations of Deutsche Bank will involve the transfer of up to 800 people, a person with knowledge of the matter said on Friday. Deutsche Bank said in July it had struck a preliminary agreement with BNP covering the business that serves hedge funds as part of its 7.4 billion euro ($8.2 billion) overhaul, but details on personnel and the timing of any final deal were being hammered out. BNP and Deutsche Bank declined to comment.

  • Financial Times

    Jes Staley: the last man in European investment banking

    , there is now just one European investment bank that hopes to remain a global force: Barclays. “The world doesn’t want to see just US investment banks,” said Jes Staley, the American chief executive of Barclays.

  • Financial Times

    Deutsche Bank to transfer up to 800 staff to BNP Paribas

    Deutsche Bank is preparing to transfer up to 800 staff to BNP Paribas as part of its retreat from investment banking, according to several people briefed on the plan. The deal will see the French lender assume control of Deutsche’s prime brokerage unit that services hedge funds, the people said, with tens of billions of euros of assets also changing hands. Last month the banks announced a preliminary agreement to “provide continuity” to Deutsche’s clients in a move that could also help BNP strengthen its presence in prime brokerage, the potentially lucrative business of lending money to hedge funds and handling their trading.

  • Deutsche Bank to Pay $16.2 Million in ‘Princeling’ Bribery Case
    Bloomberg

    Deutsche Bank to Pay $16.2 Million in ‘Princeling’ Bribery Case

    (Bloomberg) -- Deutsche Bank AG will pay $16.2 million to settle a U.S. regulator’s allegations that it hired relatives of overseas government officials to win business, making it the latest firm ensnared in a scandal that rocked Wall Street and sparked years-long investigations.The hiring, which lasted from at least 2006 through 2014 in the Asia Pacific-region and Russia, violated U.S. laws including the Foreign Corrupt Practices Act, the Securities and Exchange Commission said in a Thursday order. The Frankfurt-based bank agreed to settle the case without admitting or denying wrongdoing, the SEC said.Deutsche Bank employees created false books and records that concealed corrupt hiring practices, according to the SEC. Individuals who were offered jobs typically bypassed the bank’s highly competitive and merit-based process, which required that they have high grades in school and went through multiple rounds of interviews. One Russian hire who worked in London performed so badly that a human resources employee deemed him “a liability to the reputation of the program, if not the firm,” the SEC said.The company agreed to pay a $3 million fine and more than $13 million disgorgement and interest, an amount that the SEC said reflects its level of cooperation.“Deutsche Bank provided substantial cooperation to the SEC in its inquiry and has implemented numerous remedial measures to improve the bank’s hiring practices,” bank spokesman Troy Gravitt said in an email statement.The SEC and U.S. Justice Department in the past decade made enforcing anti-bribery laws a priority, specifically scrutinizing how financial firms had awarded internships. The industry-wide investigations were referred to as princeling probes, because they often focused on individuals with connections to the Communist party in China and prominent business people.Deutsche Bank’s SEC sanction is small when compared with other banks accused of similar misconduct. JPMorgan Chase & Co. was penalized about $264 million in November 2016, while Credit Suisse Group AG agreed to pay $77 million in July 2018. The JPMorgan and Credit Suisse cases also resolved Justice Department allegations.(Updates with Deutsche Bank’s statement in the fifth paragraph.)To contact the reporter on this story: Matt Robinson in New York at mrobinson55@bloomberg.netTo contact the editors responsible for this story: Jesse Westbrook at jwestbrook1@bloomberg.net, Gregory MottFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Financial Times

    Deutsche Bank reaches $16.2m settlement with SEC over recruitment

    Deutsche Bank has agreed to pay $16.2m to settle civil allegations that for years it hired the relatives of government officials in order to win business in China and Russia. The German lender’s settlement with the US Securities and Exchange Commission makes it the latest bank to settle claims arising from a long-running investigation into Wall Street hiring practices. From 2006 to 2014, Deutsche Bank gave jobs to the children of rich and powerful officials “as a personal benefit to the officials in order to improperly influence them to assist the bank in obtaining or retaining business”, the SEC alleged on Thursday.

  • Royal Bank of Canada (RY) Q3 Earnings Improve Y/Y, Costs Rise
    Zacks

    Royal Bank of Canada (RY) Q3 Earnings Improve Y/Y, Costs Rise

    Royal Bank of Canada (RY) witnesses higher revenues and rise in expenses in third-quarter fiscal 2019.

  • Moody's

    Moody's Fully Supported Municipal & IRB Deals

    Announcement: Moody's Fully Supported Municipal& IRB Deals. Global Credit Research- 21 Aug 2019. New York, August 21, 2019-- ASSIGNMENTS:.

  • HSBC Plans to Bid for Aviva Asia Business, Seeks to Diversify
    Zacks

    HSBC Plans to Bid for Aviva Asia Business, Seeks to Diversify

    HSBC is in the early stage of weighing an offer for the Asia operations of Aviva.

  • Commerzbank Plans to Shut Down 100-200 Branches to Cut Costs
    Zacks

    Commerzbank Plans to Shut Down 100-200 Branches to Cut Costs

    Commerzbank (CRZBY) undertakes plans to cut costs after taking into account the weak German economy and expectations of lower rates.

  • Deutsche Bank tightens worldwide procedures on new hires: memo
    Reuters

    Deutsche Bank tightens worldwide procedures on new hires: memo

    Deutsche Bank, in the midst of a major restructuring and headcount reduction, is tightening its worldwide procedures for new hires, according to an internal memo. The memo, dated Wednesday and seen by Reuters, said that any new hires would require explicit approval from the bank's chief executive officer Christian Sewing, as well as his deputy Karl von Rohr and finance chief James von Moltke.

  • Humbled Deutsche Bank faces battle in its own backyard
    Reuters

    Humbled Deutsche Bank faces battle in its own backyard

    Online retailer Zalando is just the kind of fast-growing German business with foreign expansion plans that Deutsche Bank Chief Executive Christian Sewing needs to help drive the struggling lender's recovery. In an attempt to draw a line under years of scandals and heavy losses, Sewing is pulling back from investment banking and rebuilding Deutsche Bank's corporate division by deepening existing relationships and attracting clients beyond its traditional blue-chip customers. "Deutsche Bank is a systemically relevant bank but, nevertheless, we see a possible risk and are trying to the best of our knowledge to mitigate the risk and to have a good sleep at night," Dominika Kilka-Roth, who heads Zalando's risk management, told Reuters.

  • Reuters

    Deutsche Bank leads European shares higher

    European shares rose on Monday, extending gains from the previous session, as German stocks, led by Deutsche Bank, rallied and investors cheered plans from Germany and China to counter slowing growth. Deutsche Bank's shares jumped 3.6% and helped the DAX index climb 1.1%. Some major investors of the German bank want supervisory board chairman Paul Achleitner to step down before his term ends in 2022, a German magazine reported on Friday.

  • Financial Times

    What is the US yield curve and why has it spooked investors?

    What if there was a way to know when the next recession was close? What if there was a market measure that could clearly communicate economic trouble ahead, without fail?  Well, there isn’t. But some analysts ...

  • Financial Times

    Deutsche Bank adds ex-UBS executive Jürg Zeltner to board

    Deutsche Bank has named UBS’s former head of wealth management, Jürg Zeltner, to its supervisory board as the troubled lender embarks on a radical overhaul to reduce its reliance on trading and boost income from other sources such as private banking. Mr Zeltner will succeed Richard Meddings, the chairman of UK bank TSB, after he stepped down at the end of July after four years as a Deutsche non-executive director, according to a statement on Thursday. In May, Swiss-born, 52-year-old Mr Zeltner was announced as chief executive of KBL European Private Bankers, a collection of boutique brands including Brown Shipley in the UK.

  • Bloomberg

    HelloFresh Nears Zalando-Style Turning Point After First Profit

    (Bloomberg) -- Zalando SE lost money for the first five years of its existence, then in 2014 it turned a corner and began posting a profit every year. Evidence suggests meal kit startup HelloFresh SE is following a similar path.The Berlin-based food company is optimistic it can generate a group-wide operating profit this year and sustain and expand profitability in the years to come, Chief Executive Officer Dominik Richter said in an interview on Tuesday. HelloFresh shares rose the most since January in early Frankfurt trading.HelloFresh can “generate much higher profit levels than other e-commerce companies,” because the company controls the entire value chain -- from branded retail to wholesale to logistics, Richter said.The company, which assembles ingredients into boxed meal kits and seeks to convince customers of the benefits of cooking at home, earlier Tuesday reported its first quarterly operating profit, in the April-June period, after sales growth across its markets.The results are “significantly better than what we expected,” Deutsche Bank analysts Nizla Naizer and Silvia Cuneo wrote in a note to clients. They mark “a key turning point for the group in our view.”HelloFresh rose as much as 17.7%, the steepest intraday gain since Jan. 18.The Berlin-based startup is especially strong in the U.S., its biggest market, where it’s surpassed Blue Apron Holdings Inc., expanded its choice of meals, and this week started a special “date night” kit in a marketing partnership with businesswoman and actress Jessica Alba.To contact the reporter on this story: Stefan Nicola in Berlin at snicola2@bloomberg.netTo contact the editors responsible for this story: Rebecca Penty at rpenty@bloomberg.net, Nate LanxonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Former UBS banker to represent Qatar on Deutsche supervisory board: sources
    Reuters

    Former UBS banker to represent Qatar on Deutsche supervisory board: sources

    Juerg Zeltner, a former UBS manager, is set to become a member of Deutsche Bank's supervisory board, two people with knowledge of the matter said on Monday. In his new role, he will represent the interests of Qatar's royal family - a top shareholder of the German lender -, the sources said. Zeltner, a former head of UBS Wealth Management, was named earlier this year as the chief executive officer of KBL European Private Bankers (KBL epb), which is controlled by the Al-Thani family of Qatar.

  • Financial Times

    For today’s investment bankers, job cuts are a one-way street

    Adair Turner, the former City regulator, once intimated that investment bankers were “socially useless” (he actually applied the phrase to activities in “fixed income securities, derivatives . . . and ...

  • Financial Times

    Deutsche Bank admits it faces struggle to revive IPO business

    Deutsche Bank faces an uphill battle to revive its struggling equity capital markets business, one of the bank’s top executives has admitted. “Our business is to a large degree driven by client perception,” Josef Ritter, Deutsche’s head of ECM Europe, the Middle East and Africa, told the Financial Times.