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?
Once again, Deutsche Bank has a new man at the helm. Once again, it’s hoped that his appointment will make everything better. The task he is facing? Nothing less than staving off collapse, says DW's Henrik Böhme.
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.
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.
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.
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