Deutsche Bank reassures staff of strength after US settlement
US$7.2b agreement over toxic sub-prime debt will not affect credit rating or ability to operate in the US, it adds
London
DEUTSCHE Bank AG moved to reassure employees of its financial strength after reaching a US$7.2 billion settlement with US regulators over toxic sub-prime debt, and said it found no evidence the firm had breached sanctions against Russia in a separate probe.
The lender, which saw its stock plunge this year amid legal concerns on multiple fronts, said in a memo to staff on Friday that it doesn't expect the settlement to affect its credit rating or its ability to operate in the US, and it anticipates paying the coupons on all its debt instruments.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
Nomura, Mizuho face losses on All Blue fund’s failed trades
Stablecoin Tether steps up monitoring in bid to combat illicit finance
HSBC asked by US$890 billion investor group to set energy goal
Barclays is the latest firm to face anti-ESG wrath in Oklahoma
Barclays prices mortgage-backed notes in deal with GoldenTree
TD risks an earnings hit from US laundering probe, analysts say