Deutsche Bank apologizes for costly mistakes

Deutsche Bank apologizes for costly mistakes
Germany's largest lender, Deutsche Bank, has apologized for its costly mistakes in the past - in full-page newspaper ads - as it deals with historic legal troubles. Last week, Deutsche Bank announced a 1.4 billion euro annual loss, reports DW.

"Serious mistakes were made," reads the advertisement that ran in several German newspapers on Saturday.

In December, Deutsche Bank agreed to a $7.2 billion (6.6 billion euros) settlement with the US Justice Department over its dealings in opaque bonds based on home loans in 2005-2007. Losses on such bonds packaged and sold by major banks helped start the global financial crisis.

The lender is still facing about 7,000 separate lawsuits and regulatory cases, which analysts say could take years to resolve.

Read more.

Comment below.
    Donate to Speisa

Investigators have been ordered to investigate traffic violations instead of other more serious crimes, as "Project Alcatraz" has been launched. Police now fear even more crime.

Several police patrols were called to a mass brawl between some 20 people at a refugee center: "It's a mess. There are both old and young who have fought."

Denmark sends a clear message to Muslim women: If you refuse to take a job where you can not wear the burqa or the niqab, social benefits end.

View this article in PDF format Print article


Comments at Speisa are unmoderated. We do believe in free speech, but posts using foul language, as well as abusive, hateful, libelous and genocidal posts, will be deleted if seen. However, if a comment remains on the site, it in no way constitutes an endorsement by Speisa of the sentiments contained therein.
comments powered by Disqus