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Banking

UK mulls plan for 'bad bank' to hold stakes in bailed-out firms

LONDON: The British government is considering a plan for a "bad bank" that would hold stakes in bailed-out businesses that many fear could fail during the COVID-19 crisis, the Sunday Times newspaper reported..

Business

Indian lenders pitch for govt-funded ‘bad bank’

MUMBAI: Indian lenders want the government to provide up to US$2bil to set up a “bad bank” at a time when their heavy pile of soured debt is expected to double in size due to the Covid-19 pandemic, according to two sources with knowledge of the matter.

Business

Deutsche Bank posts Q2 loss of US$3.51b on restructuring costs

FRANKFURT: Deutsche Bank said on Wednesday the German lender posted a larger-than-forecast loss of 3.15 billion euros (US$3.51 billion) in the second quarter due to major restructuring costs.

Business

What Deutsche bank employees are saying about the 18,000 global job cuts

HONG KONG: Whole teams within Deutsche Bank AG have been told their positions were gone, as the lender began axing 18,000 jobs globally in one of the biggest overhauls to an investment bank since the aftermath of the financial crisis.

Business

Deutsche Bank board to meet to decide on job cuts

FRANKFURT: Deutsche Bank’s supervisory board will meet on July 7 to discuss a major restructuring that may result in as many as 20,000 job cuts, four people with knowledge of the matter said.

Business

Deutsche Bank plans 50 billion euro bad bank

FRANKFURT: Deutsche Bank is planning to overhaul its trading operations by creating a so-called bad bank to hold tens of billions of euros of non-core assets, a source close to the matter said.