Deutsche Bank

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Summary

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.

Products

Financial Services, Investment Banking, Corporate Banking, Asset Management, Commercial Banking, Private Banking

    Violations

    Top 5 Offense Groups (Groups Defined)Penalty TotalNumber of Records
    financial offenses$15,136,029,77845
    competition-related offenses$3,124,540,27412
    employment-related offenses$21,900,0001
    miscellaneous offenses$4,150,0002
    safety-related offenses$5,2501

    (May 8, 2021) 

    Number of Records
    61
    Total Penalties
    $18,286,625,302 (May 8, 2021)
    Individual Records & Summaries
    Deutsche Bank Violation Tracker
    Information in this section is drawn from the Violation Tracker database produced by the Corporate Research Project of Good Jobs First in Washington DC. It is the most comprehensive source of data on business violations of laws and regulations in the United States. For specific examples of misconduct, please click on the links.

    Stories

    Article Archive

    Banking on Climate Chaos

    Published by
    Rainforest Action Network
    |

    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

    Read more
    Videos & Podcasts
    FinCEN money laundering leaks: Deutsche Bank is under fire | DW News

     

    Deutsche Bank's radical restructuring rocks Frankfurt | DW News

     

    Books
    • 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

    Recent & Ongoing Campaigns
    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.

    Major Investigations
    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.

    Employment Practices
    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

    Corporate Headquarters
    Taunusanlage 12 60325 Frankfurt am Main Germany
    Most Recent Gross Revenue
    $19.449 billion (2019) | source
    Most Recent Net Revenue
    $ -4.094 billion | source
    Stock Exchange Tickers
    FWB: DBK, NSYE: DBK
    Subsidiaries

    Subsidiaries 2019

    Subsidy Tracker
    Subsidy Tracker
    Subsidy Tracker is a project of Good Jobs First in Washington DC. It is the most comprehensive source of data on state and federal subsidies in the United States. For more details, click on the links.
    Click here for details of subsidies received by Deutsche Bank
    Major Projects
    Deutsche Banks won’t finance any new Arctic oil and gas projects

    Published by The Barents Observer | Thomas Nilsen | July 28, 2020

    Germany’s largest finance institution says the move is part of a commitment to protect the climate and help the EU to achieve its goal of being climate neutral by 2050.

    Procurement

    CorpWatch is still working on gathering procurement data for Deutsche Bank at this time.

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