By Jenny Park
Deutsche Bank, Germany’s largest lender, has swung to
post a net loss in the third quarter, compared to a profit in the same period
last year. This posting is largely the result of increasing penalties from
global authorities in response to allegations of the firm’s wrongdoings. Among
these allegations, Deutsche Bank is alleged to have manipulated benchmark
interest rates and to have colluded to manipulate the foreign-exchange market.
The firm has set aside €894m for
legal costs.
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