Deutsche Bank is in danger of failing U.S. stress tests, a European bank supervi...
FRANKFURT - Deutsche Bank is in danger of failing U.S. stress tests, a European bank supervisor told Reuters, adding to pressure on Germany’s biggest lender to make changes to its investment bank after failed merger talks with Commerzbank.
The Federal Reserve, which will complete its examination of Deutsche Bank’s U.S. operations in the coming weeks, could also impose conditions curbing its Wall Street investment bank, further undermining its earning power, the official said. Deutsche Bank’s future in the United States, where it opened 40 years ago with just 76 employees before expanding rapidly in 1999 by buying Bankers Trust, is already in doubt.
Rating agency Fitch said Deutsche Bank’s investment bank “has yet to show that it can recover lost market share and navigate an uncertain market environment.”In the first quarter revenue at Deutsche Bank’s investment bank, which accounts for more than half its overall revenue, slid 13 percent from a year ago. Costs were higher than its income.
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