Deutsche Bank, which has a large presence in the Triangle, pledged nearly $5 million in funding Thursday to help combat human trafficking in New Mexico, the bank announced in a joint statement with Attorney General Raúl Torrez.
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Deutsche Bank has agreed to pay $75 million to settle a lawsuit claiming that the German lender should have seen evidence of sex trafficking by Jeffrey Epstein when he was a client, according to lawyers for women who say they were abused by the late financier.
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Just a week after touting its improving financial performance, Deutsche Bank on Friday is under siege. It’s the second big European bank with a large presence in the Triangle to face stress, joining Credit Suisse, as world banks struggle with growing concerns about risk since Silicon Valley Bank failed two weeks ago.
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Policymakers, at least in the U.S. and Europe, now appear resigned to weaker economic growth in 2023. Any recessions are likely to be short lived, but they will not be painless. But the worst may be over as a tumultuous 2022 comes to close.
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This is the first in a new series about economic development in North Carolina called “Why NC?” The series is a colaborative effort of the NC TECH Association and Racepoint Global in partnership with WRAL TechWire. Our first story focuses on Deutsche Bank.
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Authorities in Germany raided the offices of Deutsche Bank and its subsidiary DWS on Tuesday following claims that it was exaggerating the sustainable credentials of some of the products it sold.
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Deutsche Bank saw its net profit increase 6% in the third quarter despite a sharp increase in restructuring costs. The bottom line at Germany’s largest bank benefited from fewer loans going bad as the economy rebounds from the coronavirus pandemic and credit support from governments and the European Central Bank.
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Deutsche Bank, which operates a significant tech development center in Cary, saw its strongest quarterly profits in seven years as the bank’s long-running restructuring achieved lower costs and as the bank suffered fewer loan losses in an economy that is rebounding from the worst of the pandemic recession. Plus: It’s hiring in Cary.
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Deutsche Bank, which has a significant Cary operation, has made an annual net profit for the first time since 2014.
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