Deutsche Bank Feels the Squeeze of Increasing Penalties

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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