Fines, penalties, lawsuits, structural problems and falling share prices – a shaky Deutsche Bank is releasing third-quarter results. Will they show the German financial giant is back on firm ground? Or will they scare off even more investors?
The US investment group has taken a 3 percent stake in Germany's biggest lender, making Cerberus the fourth largest shareholder and fueling speculation about a merger between Germany's biggest private banks.
The German lender has beaten analysts' expectations for third-quarter profit and has settled another case of its financial crisis wrongdoings. But meagre revenues show the bank is far from being out of the woods.
CEO John Cryan has signalled that Germany's biggest lender will need to cut more of its 97,000-strong workforce. He sees artificial intelligence replacing many of the bank's back office roles.
Italy's debt-ridden lender Monte dei Paschi di Siena has reported a net profit, signaling it's seeing better times after being rescued from the brink of collapse. A debt swap helped the bank return to the black.
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