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...It has also ended all correspondent relationships with other Russian banks....
...“Look back at the US banks [and] how they got into their position....
...Over several years, the firm also failed to request crucial account information from a Singapore bank where Wirecard claimed it had large amounts of corporate cash....
...“Banks need high yield and sustainable yield,” said Antonio Roman, portfolio manager of the Axiom European Banks Equity fund....
...The investors owned additional tier 1 bonds, or AT1s, a form of bank debt that can be converted into equity or written down when a bank runs into trouble....
...Deutsche Bank has since the summer been struggling with the fallout of the botched IT migration that saw clients locked out of accounts and internal workflows at the bank break down....
...UBS began removing Credit Suisse’s brand in New York in August, replacing signs at the collapsed bank’s US headquarters....
...DZ Bank analysts said in a note to clients that the bank is “currently unable to offset elevated funding costs with higher margins in the lending business”....
...No such plan existed for Deutsche Bank, which is rather too large for most other banks to digest in a hurry....
...In a report sent to Strobl by the board of the bank’s Russian subsidiary, it said the adverts (erroneously) included boilerplate information about the bank and its ambitions there....
...But this year that will rise to SFr20mn, the bank said....
...The brunt of the cuts affected Karl von Rohr, the former head of Deutsche’s private bank who left the bank last year after his contract was not extended....
...Austria’s Raiffeisen Bank International said it expected to be ordered by the European Central Bank to speed up its withdrawal from Russia, in a move that could derail talks to sell its highly profitable...
...But less than a year later, under a new chair and chief executive, the bank underwent another restructuring....
...At the time, Credit Suisse said a change to the contract would lead to a $600mn loss for the bank. But on Wednesday, UBS confirmed it would be a $900mn loss....
...The capital returns have helped send the shares of European banks to a six-year high. The Stoxx Europe 600 Banks index is up 34 per cent over the past year....
...Instead, the regulator in its report referenced anonymised companies “[Company A] Bank AG” and “[Company A] Capital (UK) Limited”....
...The bank generated $40.8bn of revenues last year, up from $34.6bn in 2022....
...Booij will leave his role as chief executive for Europe at ABN Amro Clearing Bank, a division of the Dutch bank that connects trading firms and hedge funds with exchanges such as Eurex....
...The US Federal Reserve fined Deutsche Bank $186mn last year for a “material failure” to fix “unsafe and unsound banking practices” that the bank had promised to resolve as long ago as 2015....
...The deal would allow the bank to repatriate earnings from Russia....
...For evidence, look no further than European banks, which trade at an average price to earnings of around 6 times....
...The US has eight G-SIBs: JPMorgan, Citigroup, Bank of America, Goldman Sachs, Morgan Stanley, Bank of New York Mellon, State Street and Wells Fargo....
...Deutsche Bank has set out plans to triple its dividend, buy back more shares and cut jobs as Germany’s biggest bank tries to boost a share price that has languished over the past year....
...The bank’s new three-year strategy is designed to achieve that....
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