Deutsche Bank
Deutsche Bank AG is a German multinational investment bank and financial services company headquartered in Frankfurt, Germany, and dual-listed on the Frankfurt Stock Exchange and the New York Stock Exchange.
Some of the key events about Deutsche Bank
- 1870Founded as a foreign trade bank in Berlin to promote German exports
- 1876Opened its first overseas branch in London
- 1914Financed the construction of the Baghdad Railway, connecting Berlin to the Persian Gulf
- 1929Merged with its major domestic rival, Disconto-Gesellschaft
- 1933Participated in the "Aryanization" of Jewish-owned businesses during Nazi rule in Germany
- 1946Temporarily closed due to its involvement with the Nazi regime during World War II
- 1957Introduced the "Kleine Kredit" (small loan) program, making consumer credit widely available in Germany
- 1989Acquired Morgan Grenfell, a British merchant bank, expanding its investment banking capabilities
- 1999Acquired Bankers Trust, becoming a major player in the global investment banking market
- 1999Acquired Bankers Trust, leading to significant legal and regulatory issues
- 2001Implicated in a major money laundering scandal involving Russian clients
- 2002Listed its shares on the New York Stock Exchange
- 2008Involved in the subprime mortgage crisis, contributing to the global financial meltdown
- 2010Acquired Sal. Oppenheim, the largest private bank in Europe at the time
- 2015Fined $2.5 billion for its role in manipulating LIBOR interest rates
- 2016Reached a $7.2 billion settlement with the U.S. Department of Justice over toxic mortgage assets
- 2017Fined $630 million for involvement in Russian mirror trades, a money-laundering scheme
- 2019Announced a major restructuring plan to focus on corporate banking and reduce its investment banking operations
- 2019Raided by German authorities in connection with the Panama Papers money laundering investigation
- 2020Fined $150 million by New York regulators for compliance failures related to Jeffrey Epstein's accounts
Disclaimer: This material is written based on information taken from open sources, including Wikipedia, news media, podcasts, and other public sources.
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