Deutsche Bank
Profile
Deutsche Bank was founded in 1870. It has paid out $7.2 billion in fines for its role in the U.S. subprime mortgage crisis and $2.5 billion in fines for its role in the global interest rate fixing scandal. It has also paid out $125 million to the U.S. to drop investigations into bribes paid out to officials in China, Italy, Russia, Saudi Arabia and the United Arab Emirates, as well as manipulating prices of precious metals. The Banking on Climate Chaos report estimates that Deutsche Bank provided over $74 billion in fossil fuel loans between 2016 and 2021 for projects such as Energy Transfer Partners’ Dakota Access Pipeline and Exxon’s ultra-deepwater drilling project off the coast of Guyana.
Financial Services, Investment Banking, Corporate Banking, Asset Management, Commercial Banking, Private Banking
Violations
| Top 5 Offense Groups (Groups Defined) | Penalty Total | Number of Records |
|---|---|---|
| financial offenses | $15,136,029,778 | 45 |
| competition-related offenses | $3,124,540,274 | 12 |
| employment-related offenses | $21,900,000 | 1 |
| miscellaneous offenses | $4,150,000 | 2 |
| safety-related offenses | $5,250 | 1 |
(May 8, 2021)
Stories
Banking on Climate Chaos
This report analyzes fossil fuel financing from the world’s 60 largest commercial and investment banks — aggregating their leading roles in lending and underwriting of debt and equity issua
Deutsche Bank’s potential $14bn penalty in 10 simple charts
How big is the penalty?
The US Department of Justice has started the negotiations at $14bn.
UBS and Deutsche Bank Lose British Tax Case on Bonuses (Published 2016)
LONDON — Britain’s highest court has found that UBS and Deutsche Bank must pay tax on shares awarded to employees as bonuses more than a decade ago that British tax authorities said were intended to avoid taxes.
Deutsche Bank headquarters raided over money laundering
image copyrightReuters
- A Big Deal? Corporate Social Responsibility and the Finance Sector in Europe (CORE Coalition, December 2005).
- Abuse of Structured Financial Products (Senate Permanent Subcommittee on Investigations,July 2014).
- Dark Towers: Deutsche Bank, Donald Trump, and an Epic Trail of Destruction by David Enrich (Custom House, 2020).
- Dirty Profits 2: Report on Companies and Financial Institutions Benefiting from Violations of Human Rights (Facing Finance, 2013).
- Dividend Tax Abuse: How Offshore Entities Dodge Taxes on U.S. Stock Dividends (Senate Permanent Subcommittee on Investigations, September 2008).
- Farming Money: How European Banks and Private Finance Profit from Food Speculation and Land Grabs (Friends of the Earth Europe, January 2012).
- Financing Food: Financialisation and Financial Actors in Agriculture Commodity Markets (SOMO, April 2010). Investing Responsibly: A Financial Puzzle (SOMO, September 2010).
- Undue Diligence: How Banks Do Business with Corrupt Regimes (Global Witness, March 2009).
- Bad Bank: Aufstieg und Fall der Deutschen Bank by Dirk Laabs (Deutsche Verlags-Anstalt, 2017)
- Die Akte Deutsche Bank: Geschichte, Skandale, Zukunft by Ulrich Novak et al. (Herbig, 2016)
- The Downfall of Deutsche Bank - Symbol of the Decline of the Monetary System: The Rise of the New Monetary System by Rafael D. Kasischke (Books on Demand, 2020)
Activism
Pressured by Climate Activist Groups, Deutsche Bank Ditches Drilling in the Arctic
Krissy Waite | Common Dreams | July 27, 2020
Climate activists are celebrating Deutsche Bank's new energy policy banning financial support of drilling in the Arctic, a move which comes after years of pressure from advocacy groups.
"Ende Gelände" protestiert vor Deutscher Bank
Wilhelm Galerie | Potsdamer | March 2, 2020
Potsdam - Vertreter der Aktivistengruppe "Ende Gelände" haben am Montagnachmittag vor der Deutschen Bank Filiale an der Wilhelm Galerie in der Potsdamer Innenstadt protestiert. Die rund 20 Demonstranten richten sich damit "gezielt an Banken, die nach wie vor Milliardenbeträge ...
Verdi union speaks out against any Deutsche Bank, Commerzbank merger
Reuters | January 22, 2019
Germany's Verdi labor union on Tuesday voiced concern over any possible merger between Germany's largest banks – Deutsche Bank DBKGn.DE and Commerzbank CBKG.DE.
Completed Campaign: Indonesia: Deutsche Bank finances deforestation
Rainforest Rescue | May 26, 2014
Deutsche Bank has told Friends of the Earth Europe and Rainforest Rescue that it sold its shares in the Indonesian palm oil supplier Bumitama following months of campaigning by the two groups. Despite numerous promises to clean up its act, Bumitama continues to produce illegal palm oil.
Was, wenn IHRE Bank Kriege und Klimakatastophe befeuert? (GERMAN)
Urgewald |
Während die Welt im Bann der Pandemie steht, schreitet der Klimawandel ungebremst voran. Rekordtemperaturen, zunehmende Waldbrände und Hurrikans zeigen, wie das Klima ins Kippen gerät. Gleichzeitig gibt es einen immer hemmungsloseren weltweiten Rüstungswettlauf. Deutsche Rüstungskonzerne verdienen prächtig ...
Unions Mobilize to fight against Deutsche Bank - Commerzbank merger.
Financial Times |
Just a heads up, this article is behind a paywall.
& Lawsuits
Deutsche Bank Agrees to Pay over $130 Million to Resolve Foreign Corrupt Practices Act and Fraud Case
United States Department of Justice | January 8, 2021
Deutsche Bank Aktiengesellschaft (Deutsche Bank or the Company) has agreed to pay more than $130 million to resolve the government’s investigation into violations of the Foreign Corrupt Practices Act (FCPA) and a separate investigation into a commodities fraud scheme.
Deutsche Bank hit with $150 million penalty for relationship to sex offender Jeffrey Epstein
Jim Forkin | CNBC | July 7, 2020
New York state financial regulators said that Deutsche Bank has agreed to a $150 million penalty related to the bank’s lack of oversight in dealings with accused child sex trafficker Jeffrey Epstein, a now-dead investor, as well as with two client banks.
Deutsche Bank fined $425 million over suspicious Russia trades
DW | January 30, 2017
The German bank has been fined over a "mirror trading" scheme that moved billions out of Russia between 2011 and 2015. The US Department of Justice has said it is also investigating the matter.
Deutsche Bank settles over US mortgage-backed securities
DW | December 23, 2016
Deutsche Bank has reached a $7.2 billion agreement to resolve a US investigation into its dealings in mortgage-backed securities. The deal removes a major legal hurdle for the bank.
Italian prosecutor investigates Deutsche Bank over 2011 bond sale
Vincenzo Damiani | Reuters | May 6, 2016
An Italian prosecutor is investigating Deutsche Bank DBKGn.DE over its sale of 7 billion euros ($8 billion) of Italian government bonds five years ago, an investigative source told Reuters.
Deutsche Bank fined record $2.5 billion over rate rigging
Kirstin Ridley, Karen Freifeld | Reuters | April 23, 2015
U.S. and British authorities fined Deutsche Bank DBKGn.DE $2.5 billion, accused Germany's largest lender of obstructing regulators and ordered it to fire seven employees in the eighth global settlement of alleged benchmark interest rate rigging.
State prosecutors examine Deutsche Bank spy scandal
DW | July 21, 2009
Authorities in the German state of Hesse are considering whether the nation's largest bank, Deutsche Bank, should face criminal charges for allegedly hiring detectives to spy on two top managers and a key shareholder.
U.S. Supreme Court Revives Deutsche Bank Class Action Lawsuit
DKR Attorneys at Law
The U.S. Supreme Court revived a $22.5 billion class action against Deutsche Bank AG on Monday after statements had been made about its exposure to risky mortgage-backed securities and after finding that the original claim should’ve been reviewed in light of the Court’s recent Omnicare ruling.
Deutsche Bank fined €13.5m for flagging suspicious transactions too late
The Financial Times
Just a heads up, this article is behind a paywall.
Deutsche Bank: Workers Should Pay 5% 'Privilege' Tax To Work From Home After Covid
Jonathan Ponciano | Forbes | November 12, 2020
As brightening vaccine prospects tease a return to pre-pandemic normalcy and employers map out when and how remote workers return to the office, analysts at Deutsche Bank are proposing a “privilege tax" on post-pandemic work from home to subsidize lost wages for low-income workers.
The disappointed Deutsche Bank staff compelled to leave with nothing at all
Sarah Butcher | Efinancial Careers | August 28, 2019
If you lose your job at Deutsche Bank, you will not get a big severance payment. Ever since early 2018, the German bank has paid the statutory minimum in the UK, plus maybe a 10% sweetener. It's not great, but given that laid-off employees also usually walk away with their deferred stock bonuses, it's not too bad.
SEC Charges Deutsche Bank with FCPA Violations Related to Its Hiring Practices
United States Securities Exchange Commission | August 22, 2019
The Securities and Exchange Commission today announced that Deutsche Bank AG will pay more than $16 million to settle charges that it violated the FCPA by hiring relatives of foreign government officials in order to improperly influence them in connection with investment banking business.
Deutsche Bank fined $16m for hiring 'unqualified relatives' of politicians
Pedro Gonçalves | Investment International | August 23, 2019
Deutsche Bank has agreed to pay more than $16m to the US Securities and Exchange Commission to settle charges that it hired "poorly or unqualified" relatives of foreign officials in Asia and Russia.
Deutsche Bank manager didn't want to 'deal with' medical issues, suit says
Lisa Burden | HR Drive | March 29, 2019
In a lawsuit alleging Family and Medical Leave Act (FMLA) retaliation, a Deutsche Bank employee said her supervisor sent "a clear message that he did not want to 'deal with' an employee with medical issues" (Kaur v. Deutsche Bank A.G. and Boeri, No. 19-cv-02505 (S.D.N.Y., March 21, 2019)).
Deutsche Bank settles 401(k) self-dealing lawsuit for $21.9 million
Greg Iacurci | Investment News | August 15, 2018
Deutsche Bank has reached a $21.9 million settlement in a lawsuit alleging the investment bank enriched itself at the expense of its employees by loading its company 401(k) plan with proprietary funds.
Financials
Note: Most recent list is not always the most complete list.
- Deutsche Bank subsidiaries (via U.S. SEC 2019)
- Deutsche Bank subsidiaries (via U.S. SEC 2011)
- Deutsche Bank subsidiaries (via U.S. SEC 2003)
roctail Subsidiary Tool using the CorpWatch API - This API uses automated parsers to extract the subsidiary relationship information from Exhibit 21 of companies' 10-K filings with the SEC.
Click here for the latest list.
Political Influence
OpenSecrets.org Profile of Deutsche Bank AG
& Evasion
European banks book $24 billion in tax havens every year, report says
Chloe Taylor | CNBC | September 6, 2021
Europe’s biggest banks are booking an average of 20 billion euros ($23.7 billion) in tax havens every year, according to a new report.
Five Deutsche Bank ex-board members under investigation for tax evasion
FCCED | March 23, 2020
Deutsche Bank AG said five former management board members are under investigation for tax evasion, days after the first two bankers were convicted in Germany’s long-running Cum-Ex scandal.
Deutsche Bank to pay $95 million to end U.S. tax fraud case
Nate Raymond, Jonathan Stempel | Reuters | January 4, 2017
Deutsche Bank AG DBKGn.DE agreed to pay $95 million to resolve a U.S. government lawsuit accusing the German bank of tax fraud for using "insolvent" shell companies to hide significant tax liabilities from the Internal Revenue Service in 2000.
Procurement
CorpWatch is still working on gathering procurement data for Deutsche Bank at this time.