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.
DON'T MISS A POST - FOLLOW US ON FACEBOOK!
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
Chile: Several cities are covered with up to a meter of ash
On Wednesday the active volcano Calbuco erupted for the first time since 1972. On Thursday a new eruption followed.