1901: Establishment of Branches in Dresden and Leipzig
Deutsche Bank established branches in Dresden and Leipzig in 1901.
1908: Largest German Joint-Stock Bank
By the end of 1908, Deutsche Bank became the largest German joint-stock bank by total deposits, with 489 million Marks.
1914: Acquisition of Bergisch-Märkische Bank
Deutsche Bank acquired Bergisch-Märkische Bank in Elberfeld in 1914.
1917: Acquisition of Schlesischer Bankverein
Deutsche Bank acquired Schlesischer Bankverein in Breslau in 1917.
1919: Purchase of Universum Film Aktiengesellschaft (UFA) Stake
Deutsche Bank purchased the state's share of Universum Film Aktiengesellschaft (UFA) in 1919.
1926: Facilitation of Daimler-Benz Merger
Deutsche Bank assisted in the merger of Daimler and Benz in 1926.
1929: Merger with Disconto-Gesellschaft and Rebranding
Deutsche Bank merged with Disconto-Gesellschaft in 1929, rebranding as Deutsche Bank und Disconto-Gesellschaft (DeDi-Bank).
1929: Merger with Disconto-Gesellschaft
Deutsche Bank merged with Disconto-Gesellschaft in 1929, becoming Deutsche Bank und Disconto-Gesellschaft (DeDi-Bank).
1930: Dominant Position in German Banking
By 1930, DeDi-Bank maintained a dominant position in German banking, holding 4.8 billion Reichsmarks in total deposits.
1931: Partial Acquisition by Deutsche Golddiskontbank
The Deutsche Golddiskontbank, a subsidiary of the Reichsbank, acquired 35 percent of DeDi-Bank's equity in 1931 as part of a sector-wide rescue.
1934: Dismissal of Jewish Management Board Members
Deutsche Bank dismissed its three Jewish management board members in 1934, complying with Nazi policies.
1935: Start of Reprivatization
The Nazi government began re-privatizing Deutsche Bank in 1935, primarily for budgetary reasons.
1937: Name change back to Deutsche Bank
Deutsche Bank und Disconto-Gesellschaft changed its name back to Deutsche Bank in 1937.
1937: Completion of Reprivatization and Name Change
The Nazi government completed the re-privatization of Deutsche Bank in 1937, and the bank's name reverted to Deutsche Bank.
September 1938: Deutsche Bank Acquires Sudetenland Branches of Böhmische Union Bank
In September 1938, after the Munich Agreement, Deutsche Bank took control of the branches of Böhmische Union Bank (BUB) located in the Sudetenland.
1938: Acquisition of Mendelssohn & Co.
Deutsche Bank acquired the Jewish-controlled German bank Mendelssohn & Co. in 1938 under duress.
1938: Dismissal of Last Jewish Supervisory Board Member and Aryanization
Deutsche Bank dismissed its last Jewish supervisory board member in 1938, fully implementing the Nazi policy of Aryanization. By this time, it had been involved in at least 363 cases of expropriation of Jewish-owned businesses.
March 1939: Deutsche Bank Takes Over Böhmische Union Bank
In March 1939, Deutsche Bank seized control of the entire Böhmische Union Bank (BUB).
1939: Louis de Rothschild's Migration to the U.S.
After being arrested and imprisoned in 1938, Creditanstalt executive Louis de Rothschild was released on a then-record bail and migrated to the U.S. in 1939.
April 1942: Increased Ownership of Creditanstalt-Bankverein
Deutsche Bank increased its ownership of Creditanstalt-Bankverein to 51 percent in April 1942 by acquiring shares from VIAG.
October 1944: Confiscation and Liquidation of Bankverein AG Belgrad and Bankverein für Kroatien AG
In October 1944, the assets of Bankverein AG Belgrad and Bankverein für Kroatien AG, both originating from the former Allgemeiner Jugoslawischer Bankverein (AJB), were confiscated by the newly established Communist authorities and subsequently liquidated.
1952: Consolidation of Regional Banks into Three Major Banks
The regional banks that emerged from the breakup of Deutsche Bank were consolidated into three major banks in 1952: Norddeutsche Bank AG, Süddeutsche Bank AG, and Rheinisch-Westfälische Bank AG.
1957: Merger of Three Major Banks to Form Deutsche Bank AG
In 1957, the three major banks—Norddeutsche Bank AG, Süddeutsche Bank AG, and Rheinisch-Westfälische Bank AG—merged to reestablish Deutsche Bank AG, with its headquarters in Frankfurt.
1959: Deutsche Bank Enters Retail Banking
Deutsche Bank entered the retail banking sector in 1959 by introducing small personal loans.
1972: Establishment of Fiduciary Services Division
In 1972, Deutsche Bank established its Fiduciary Services Division to provide support to its private wealth division.
1972: Introduction of Deutsche Bank's Blue Logo
Deutsche Bank introduced its globally recognized blue logo, the "Slash in a Square," in 1972. Designed by Anton Stankowski, the logo symbolizes controlled growth.
1977: Deutsche Bank Opens Office in Milan
As part of its international expansion in the 1970s, Deutsche Bank opened a new office in Milan in 1977.
1986: Deutsche Bank Acquires Banca d'America e d'Italia
In 1986, Deutsche Bank acquired Banca d'America e d'Italia for U$603 million as part of its continued international expansion in the 1980s.
November 1989: Assassination of Alfred Herrhausen
Alfred Herrhausen, the chairman of Deutsche Bank, was assassinated on November 30, 1989, when a car bomb exploded while he was traveling in Bad Homburg, a suburb of Frankfurt. The Red Army Faction claimed responsibility for the attack.
1989: Deutsche Bank Acquires Morgan, Grenfell & Co.
Deutsche Bank took its first major step toward building a significant investment banking presence in 1989 by acquiring Morgan, Grenfell & Co., a UK-based investment bank.
1990: Acquisition of Morgan Grenfell
Deutsche Bank acquired Morgan Grenfell in 1990.
1994: Morgan, Grenfell & Co. Renamed Deutsche Morgan Grenfell
Following its acquisition by Deutsche Bank, Morgan, Grenfell & Co. was renamed Deutsche Morgan Grenfell in 1994.
1995: Deutsche Bank Hires Edson Mitchell to Expand Investment Banking
To bolster its international investments and money management operations, Deutsche Bank hired Edson Mitchell, a risk specialist from Merrill Lynch, in 1995.
1995: Deutsche Bank Publishes History Detailing Nazi Ties
In an attempt to address its past during the Nazi era, Deutsche Bank published a historical volume in 1995 that provided a detailed account of its involvement with the dictatorship.
November 1998: Deutsche Bank Acquires Bankers Trust
Deutsche Bank acquired the struggling Bankers Trust for $10 billion in November 1998. Bankers Trust had suffered losses during the 1998 Russian financial crisis due to its substantial holdings in Russian government bonds.
1998: Acquisition of Bankers Trust
Deutsche Bank acquired Bankers Trust in 1998.
June 1999: Formation of Deutsche Asset Management (DAM)
On June 4, 1999, Deutsche Bank merged its investment banking arm, Deutsche Morgan Grenfell, with the newly acquired Bankers Trust to form Deutsche Asset Management (DAM), with Robert Smith as CEO.
December 1999: Deutsche Bank Contributes to Holocaust Compensation Fund
In December 1999, Deutsche Bank, alongside other major German companies, made a contribution to a US$5.2 billion compensation fund in response to lawsuits filed by Holocaust survivors.
1999: Deutsche Bank Begins Transactions Violating US Sanctions
Deutsche Bank engaged in US dollar clearing transactions, totaling over US$10.86 billion, to circumvent US sanctions between early 1999 and 2006.
1999: Deutsche Bank Acquires Minority Interest in Cassa di Risparmio di Asti
In 1999, Deutsche Bank acquired a minority interest in Cassa di Risparmio di Asti, further solidifying its presence in the Italian market.
1999: Deutsche Bank Acknowledges Involvement at Auschwitz
In 1999, Deutsche Bank publicly admitted its involvement in the Auschwitz concentration camp.
1999: Suspicious Transactions Revealed by FinCEN Files
The FinCEN Files, leaked in 2020, revealed approximately $1.3 trillion in suspicious transactions flowing through Deutsche Bank between 1999 and 2017.
2001: Formation of Eurohypo AG
Deutsche Bank, Dresdner Bank, and Commerzbank merged their mortgage banking operations in 2001 to establish Eurohypo AG.
2001: Commencement of Espionage Activities
Deutsche Bank initiated its espionage campaign against individuals it perceived as critics in 2001. This operation continued until 2007.
2002: Josef Ackermann Becomes CEO and Deutsche Bank Acquires Scudder Investments
Josef Ackermann took the helm as CEO of Deutsche Bank in 2002. That same year, Deutsche Bank strengthened its U.S. presence by acquiring Scudder Investments.
October 2003: Deutsche Bank, Dresdner Bank, and Postbank Payment Agreement
On October 1, 2003, Deutsche Bank, Dresdner Bank, and Postbank entered into a payment transaction agreement. Under this agreement, Postbank would act as the clearing center, responsible for processing payments for all three banks.
2005: Deutsche Bank Acquires Rued Blass & Cie and United Financial Group
Deutsche Bank expanded its private-banking operations in Europe in 2002 with the acquisition of Rued Blass & Cie. Continuing this expansion, the bank acquired the Russian investment bank United Financial Group in 2005.
2005: Deutsche Bank Divests Stake in Eurohypo AG
Deutsche Bank sold its ownership share in Eurohypo AG to Commerzbank in 2005.
2006: Deutsche Bank Criticized for "Inadequate" Risk Management Practices
As early as 2006, Deutsche Bank faced internal criticism for its handling of risk, particularly regarding complex financial instruments known as "gap option" trades. An employee described the bank's initial risk mitigation strategy—a 15% "haircut" on these trades—as inadequate.
2006: Deutsche Bank Ceases Transactions Violating US Sanctions
Deutsche Bank's involvement in transactions that violated US sanctions by facilitating business with sanctioned entities continued until 2006.
April 2007: Deutsche Bank Moscow Office Hosts Andrey Kostin's Son
In April 2007, Anshu Jain, as part of his strategy to foster relationships with Russian state entities, arranged for Andrey Kostin's son, Andrey, to work at Deutsche Bank's Moscow office. Andrey Kostin is the president and chairman of the management board of VTB Bank.
2007: Start of the Financial Crisis
Deutsche Bank's involvement in the sale of toxic mortgage securities contributed to the 2007–2008 financial crisis, leading to significant consequences for the global economy.
2007: Termination of Espionage Activities
Deutsche Bank's covert espionage operations targeting its critics ceased in 2007, marking the end of a controversial chapter in the bank's history.
October 2008: Deutsche Bank Adjusts Risk Modeling Practices
By October 2008, after facing criticism for inadequate risk assessment during the financial crisis, Deutsche Bank ceased its previous modeling practices for complex financial instruments known as "gap option" trades. Instead, the bank opted to purchase S&P put options as a safeguard against further market downturns. However, some internal critics, including whistleblower Eric Ben-Artzi, argued that this new approach constituted an inappropriate hedge.
2008: Donald Trump Sues Deutsche Bank
In 2008, Donald Trump filed a lawsuit against Deutsche Bank for $3 billion.
2008: Fines and Settlements for Wrongdoings
Between 2008 and 2016, Deutsche Bank paid approximately nine billion dollars in fines and settlements related to various wrongdoings.
2008: Financial Ties to Jeffrey Epstein
Deutsche Bank provided financial services, including lending money and currency trading, to Jeffrey Epstein until May 2019. These dealings continued even after Epstein's 2008 guilty plea in Florida for soliciting prostitution from underage girls.
2008: Global Financial Crisis Impacts Deutsche Bank
In 2008, amidst a global financial crisis, Deutsche Bank faced accusations of selling toxic real estate loans, leading to lawsuits and settlements. The bank reported its first annual loss in five decades despite receiving billions in support from AIG, partially funded by US taxpayers.
2008: End of the Financial Crisis
The 2007–2008 financial crisis, partly fueled by Deutsche Bank's actions, had a lasting impact on the financial industry and global markets.
May 2009: Whistleblowers Allege Risk Underreporting at Deutsche Bank
In May 2009, internal documents and claims from former employees, including Eric Ben-Artzi and Matthew Simpson, suggested Deutsche Bank may have failed to disclose up to $12 billion in paper losses on a $130 billion portfolio of complex financial instruments known as leveraged super senior trades during the financial crisis. The whistleblowers alleged that accurate accounting might have exposed the bank's need for a government bailout, similar to Lehman Brothers.
July 2009: Cleary Gottlieb Steen & Hamilton Report on Deutsche Bank's Espionage
In July 2009, Cleary Gottlieb Steen & Hamilton, Deutsche Bank's law firm, released a report stating that it found no evidence of systemic misconduct or involvement of the current management board in any illegal activities related to the bank's espionage scandal.
October 2009: Public Prosecutor's Office Confirms Cleary Gottlieb's Findings
The Public Prosecutor's Office in Frankfurt corroborated the findings of Cleary Gottlieb's report in October 2009, concluding that there was no systemic misconduct within Deutsche Bank concerning the espionage allegations.
2009: Deutsche Bank Admits to Espionage on Critics
Deutsche Bank confessed to engaging in covert espionage activities against its critics from 2001 to 2007, orchestrated by its corporate security department. The bank, however, downplayed these incidents as "isolated" occurrences.
2010: Acquisition of Deutsche Postbank
Deutsche Bank acquired Deutsche Postbank in 2010.
2010: Global Laundromat Scandal
Deutsche Bank became embroiled in the Global Laundromat scandal, which took place between 2010 and 2014. The bank's involvement in this vast money-laundering operation, potentially involving $80 billion, raised serious concerns.
2011: Deutsche Bank Faces Capital Shortfall
In late 2011, based on the European Banking Authority's (EBA) preliminary assessment, Deutsche Bank AG faced a capital shortfall of roughly €3.2 billion. This shortfall was a consequence of impending sovereign debt write-downs anticipated to begin in mid-2012 and the requirement to maintain a 9% core Tier 1 capital ratio.
2011: Designation as a Global Systemically Important Bank
The Financial Stability Board designated Deutsche Bank as a global systemically important bank in 2011.
February 2012: Deutsche Bank Transitions to Co-CEO Leadership
Starting in February 2012, Deutsche Bank adopted a co-CEO leadership structure.
June 2012: Libor Scandal Uncovered
The Libor scandal, which implicated Deutsche Bank and several other institutions in interest rate manipulation, came to light in June 2012.
2012: Deutsche Bank's Litigation Costs Exceed €12 Billion
By 2012, Deutsche Bank had incurred over €12 billion in litigation costs, including a settlement with U.S. mortgage-finance giants Fannie Mae and Freddie Mac, underscoring the legal and financial repercussions of its actions.
2012: European Sovereign Debt Crisis Impacts Deutsche Bank
By 2012, while Deutsche Bank had limited exposure to Greece, its European private and corporate banking business faced significant credit risks due to its involvement in Spain and Italy. The bank's exposure in Italy amounted to approximately €18 billion, and €12 billion in Spain, constituting a tenth of its total European lending in those sectors.
2013: Financial Ties to Jeffrey Epstein
Between 2013 and 2018, Jeffrey Epstein, his affiliated entities, and associates opened over 40 accounts with Deutsche Bank, raising concerns about the bank's due diligence practices.
2013: Deutsche Bank's Financial Performance Declines
Throughout 2013, Deutsche Bank experienced a decline in financial performance, culminating in a significant loss in the fourth quarter. The bank's revenues fell by 16% year-over-year, contributing to the overall negative performance.
January 2014: Deutsche Bank Reports Significant Loss in Q4 2013
In January 2014, Deutsche Bank announced a pre-tax loss of €1.2 billion ($1.6 billion) for the fourth quarter of 2013, a significant deviation from the nearly €600 million profit predicted by analysts. The bank also reported a 16% decline in revenues compared to the previous year.
January 2014: William S. Broeksmit Releases Deutsche Bank Documents
William S. Broeksmit, a former risk specialist at Deutsche Bank, released numerous internal documents from the bank's New York branch in January 2014. These documents, later shared with media outlets, exposed various irregularities, including a $10 billion money laundering scheme and derivatives improprieties.
January 2014: Deutsche Bank Settles US Shareholder Lawsuit
On January 3, 2014, Deutsche Bank reached a settlement in a lawsuit filed by US shareholders who alleged the bank had bundled and sold toxic real estate loans leading up to the 2008 financial crisis. This settlement followed a separate $1.93 billion settlement with the US Housing Finance Agency regarding similar claims related to mortgage-backed securities sold to Fannie Mae and Freddie Mac.
2014: Deutsche Bank's Last Annual Profit before 2020
In 2014, Deutsche Bank last reported an annual net profit before returning to profitability in 2020. The period between these years was marked by financial challenges, restructuring efforts, and strategic shifts for the bank.
2014: Deutsche Bank Raises Funds for 1MDB
In 2014, Deutsche Bank facilitated the raising of $1.2 billion for the 1MDB fund.
2014: Designation as a Significant Institution
Deutsche Bank was designated as a Significant Institution under European Banking Supervision in late 2014.
2014: Global Laundromat Scandal
Deutsche Bank became embroiled in the Global Laundromat scandal, which took place between 2010 and 2014. The bank's involvement in this vast money-laundering operation, potentially involving $80 billion, raised serious concerns.
April 2015: Deutsche Bank Fined for Libor Scandal Involvement
Deutsche Bank agreed to pay a combined US$2.5 billion in fines in April 2015 for its role in the Libor scandal, which was uncovered in June 2012.
June 2015: Co-CEOs of Deutsche Bank Resign
In June 2015, co-CEOs of Deutsche Bank, Jürgen Fitschen and Anshu Jain, tendered their resignations to the supervisory board, which were accepted. Jain's resignation took immediate effect, although he continued to provide consulting services until January 2016. Fitschen remained as joint CEO until May 2016.
July 2015: Deutsche Bank Announces Return to Single-CEO Model
In July 2015, Deutsche Bank declared its intention to revert to a single-CEO leadership model beginning in 2016.
July 2015: John Cryan Appointed as Co-CEO of Deutsche Bank
John Cryan's appointment as joint CEO of Deutsche Bank took effect in July 2015, following the resignations of the previous co-CEOs. He later transitioned to the role of sole CEO at the end of his co-CEO term.
2015: Deutsche Bank Reports Low Capital Ratio, Announces Dividend Suspension and Job Cuts
In 2015, Deutsche Bank faced significant challenges with its capital adequacy. The bank reported a Capital Ratio Tier-1 (CET1) of 11.4%, falling short of the 12% median for Europe's 24 largest publicly traded banks. As a result, Deutsche Bank decided to suspend dividend payments for both 2015 and 2016. Additionally, the bank announced plans to cut 15,000 jobs to improve its financial position.
2015: Deutsche Bank Incurrs Substantial Losses
Throughout 2015, Deutsche Bank faced significant financial challenges, ultimately culminating in a pre-tax loss of approximately €6.1 billion and a net loss of roughly €6.7 billion, as announced in January 2016. These substantial losses were attributed to various factors, including litigation charges and the bank's overall performance.
January 2016: Deutsche Bank Announces Significant Loss for 2015, Faces Potential Capital Increase
Deutsche Bank issued a profit warning in January 2016, pre-announcing a 2015 loss before income taxes of approximately €6.1 billion and a net loss of about €6.7 billion. This announcement prompted a Citi analyst to suggest that a capital increase was "inevitable" for the bank, predicting a potential equity shortfall of up to €7 billion due to anticipated litigation charges in 2016.
January 2016: Anshu Jain's Consultancy Concludes
In January 2016, Anshu Jain's consultancy agreement with Deutsche Bank, following his resignation as co-CEO in June 2015, came to an end.
May 2016: Jürgen Fitschen's Term as Co-CEO Ends
Jürgen Fitschen's tenure as co-CEO of Deutsche Bank concluded in May 2016, marking the end of his leadership role following his resignation announcement in June 2015.
June 2016: CO2 Emission Certificate Tax Fraud Scandal
In June 2016, six former Deutsche Bank employees in Germany were accused of involvement in a tax fraud scheme related to CO2 emission certificates. While the scandal involved an estimated 850 million euros, Deutsche Bank itself avoided conviction due to the absence of corporate liability laws in Germany.
2016: Deutsche Bank Suspends Dividends, Continues Job Cuts
In 2016, Deutsche Bank continued to grapple with the aftermath of its low capital ratio reported in 2015. The bank's previously announced dividend suspension remained in effect for 2016, and job cuts continued as part of the restructuring efforts.
2016: Death of Thomas Bowers
Thomas Bowers, a former Deutsche Bank executive who oversaw the bank's American wealth management division, was found dead in his Malibu home in November 2019. Bowers had been responsible for loans to Trump's National Doral Miami resort, which were under investigation. While the circumstances surrounding his death remain unclear, no link has been established between his work and his passing.
2016: Loans to Donald Trump
Deutsche Bank is known to be one of the largest creditors to Donald Trump, having lent him and his company over $2 billion during a 20-year period ending in 2020. The bank held more than $360 million in outstanding loans to Trump prior to his 2016 election.
2016: Deutsche Bank's Legal Disputes
By 2016, Deutsche Bank was embroiled in approximately 7,800 legal disputes and had set aside €5.4 billion as litigation reserves, with an additional €2.2 billion for contingent liabilities.
2016: Deutsche Bank Implements Single-CEO Structure
In 2016, Deutsche Bank transitioned to a leadership structure headed by a single CEO.
January 2017: Money Laundering Fines
Deutsche Bank was fined $425 million by the New York State Department of Financial Services (DFS) and £163 million by the UK Financial Conduct Authority in January 2017. The fines were levied in response to allegations that the bank laundered $10 billion out of Russia.
January 2017: Mirror Trading Scheme and Money Laundering Fines
Following concerns about compliance issues within Deutsche Bank, the New York State Department of Financial Services (NYSDFS) fined the bank $425 million in January 2017. This fine was related to a "mirror trading" scheme, where Deutsche Bank's Moscow, London, and New York branches were found to have laundered $10 billion out of Russia, violating New York's anti-money laundering laws.
May 2017: HNA Group Becomes Deutsche Bank's Largest Shareholder
In May 2017, the Chinese conglomerate HNA Group acquired a significant stake in Deutsche Bank, becoming its largest shareholder with ownership of 9.90% of the bank's shares.
December 2017: Investigation into Trump-Russia Ties
Special Counsel Robert Mueller initiated an investigation in December 2017 into Deutsche Bank's role in allegations of cooperation between Trump, Russian entities, and their potential involvement in influencing the 2016 election.
2017: Conclusion of FinCEN Files Investigation Period
The FinCEN Files leak covered suspicious transactions involving Deutsche Bank until 2017, highlighting a significant volume of questionable activity.
2017: Deutsche Bank Works to Meet Capital Requirements
In 2017, Deutsche Bank faced pressure to bolster its capital reserves. To comply with regulatory requirements, the bank needed to raise its common equity tier-1 capital ratio from its current level to 12.5% by 2018, just slightly above the mandated 12.25%.
February 2018: HNA Group Reduces Stake in Deutsche Bank
On February 16, 2018, HNA Group decreased its stake in Deutsche Bank from 9.90% to 8.8%, marking a reduction in its ownership of the bank's shares.
March 2018: Separation of DWS Group from Deutsche Bank
Deutsche Bank separated its asset management division, formerly known as Deutsche Asset Management, and listed it as DWS Group in March 2018. Deutsche Bank retains a majority stake in the listed entity.
July 2018: Settlement for Improper Handling of ADRs
In July 2018, Deutsche Bank reached a settlement with the U.S. Securities and Exchange Commission (SEC), agreeing to pay nearly $75 million to resolve charges related to the mishandling of "pre-released" American depositary receipts (ADRs). While not admitting or denying wrongdoing, the bank consented to disgorge over $44.4 million in ill-gotten gains, pay $6.6 million in prejudgment interest, and an additional $22.2 million penalty.
November 2018: Whistleblower Alleges Involvement in Danske Bank Scandal
A whistleblower in the Danske Bank money laundering scandal alleged in November 2018 that a major European bank, strongly suspected to be Deutsche Bank's U.S. unit, aided Danske in processing $150 billion in suspicious funds.
November 2018: Deutsche Bank Offices Raided in Money Laundering Investigation
In November 2018, German police raided Deutsche Bank's Frankfurt offices as part of an investigation into money laundering allegations connected to the Panama Papers scandal. Deutsche Bank publicly stated its commitment to cooperate fully with the prosecutors.
2018: Financial Ties to Jeffrey Epstein
Between 2013 and 2018, Jeffrey Epstein, his affiliated entities, and associates opened over 40 accounts with Deutsche Bank, raising concerns about the bank's due diligence practices.
2018: Global Expansion and DWS Group Stake
By 2018, Deutsche Bank's network spanned 58 countries. The bank also held the majority stake in DWS Group, with combined assets of 2.2 trillion euros.
2018: Deutsche Bank Targets Capital Ratio Increase
In 2018, Deutsche Bank aimed to achieve a common equity tier-1 capital ratio of 12.5%, slightly exceeding the regulatory requirement of 12.25%, to fortify its financial standing.
February 2019: HNA Group Further Reduces Stake in Deutsche Bank
In February 2019, HNA Group announced a further reduction of its stake in Deutsche Bank to 6.3 percent, continuing the trend of divesting its ownership in the bank.
March 2019: HNA Group's Ownership in Deutsche Bank Dwindles
By March 2019, HNA Group's stake in Deutsche Bank had significantly diminished to a mere 0.19 percent, representing a near-complete exit from its previously substantial investment in the bank.
March 2019: Congressional and Legal Scrutiny
Deutsche Bank's relationship with Trump came under scrutiny from two U.S. congressional committees and the New York attorney general, with investigations launched in March 2019 to examine potential financial irregularities.
April 2019: Subpoena for Trump's Financial Records
House Democrats issued a subpoena to Deutsche Bank in April 2019, demanding access to Trump's personal and financial records as part of their investigation into his financial dealings.
May 2019: Financial Ties to Jeffrey Epstein
Deutsche Bank provided financial services, including lending money and currency trading, to Jeffrey Epstein until May 2019. These dealings continued even after Epstein's 2008 guilty plea in Florida for soliciting prostitution from underage girls.
May 2019: Deutsche Bank CEO Prepares for Criticism, Announces Restructuring Plans
During the Annual General Meeting in May 2019, Deutsche Bank CEO Christian Sewing acknowledged impending criticism of the bank's performance. He announced his readiness to implement "tough cutbacks" following the unsuccessful merger talks with Commerzbank AG and the bank's weak profitability. The New York Times highlighted the dire situation, stating that the bank's "finances and strategy [are] in disarray and 95 percent of its market value [has been] erased".
May 2019: Legal Battle over Subpoenas and Court Rulings
In May 2019, U.S. President Donald Trump, along with his business and three of his children, sued Deutsche Bank and Capital One to prevent them from handing over financial records to congressional committees. However, Judge Edgardo Ramos ruled that Deutsche Bank must comply with the subpoenas. Trump's attorneys were granted a stay to appeal the decision.
May 2019: Suspicious Activity Reports Involving Trump and Kushner
The New York Times reported in May 2019 that anti-money laundering specialists within Deutsche Bank had flagged what they believed to be suspicious transactions related to entities controlled by Trump and Jared Kushner. Despite recommendations to file Suspicious Activity Reports with the Financial Crimes Enforcement Network, bank executives chose not to proceed with the filings.
July 2019: US Prosecutors Investigate Deutsche Bank's Role in 1MDB Scandal
In July 2019, U.S. prosecutors launched an investigation into Deutsche Bank's involvement in a multibillion-dollar fraud scandal related to the 1Malaysia Development Berhad (1MDB) fund.
July 2019: Deutsche Bank Initiates Job Cuts, CEO Criticizes Past Practices
On July 8, 2019, Deutsche Bank commenced its planned workforce reduction, cutting 18,000 jobs, including entire teams of equity traders across Europe, the US, and Asia. The previous day, CEO Sewing, as reported by the Financial Times, attributed the bank's woes to a "culture of poor capital allocation" and a focus on revenue generation at any cost, practices he attributed to unnamed predecessors. Sewing committed to a future where the bank "will only operate where we are competitive".
October 2019: Deutsche Bank's Claim Regarding Trump's Tax Returns
During the ongoing legal proceedings, Deutsche Bank asserted that it did not possess Trump's tax returns, a claim made in October 2019.
November 2019: Death of Thomas Bowers
Thomas Bowers, a former Deutsche Bank executive who oversaw the bank's American wealth management division, was found dead in his Malibu home in November 2019. Bowers had been responsible for loans to Trump's National Doral Miami resort, which were under investigation. While the circumstances surrounding his death remain unclear, no link has been established between his work and his passing.
December 2019: Court Orders Release of Financial Records
The Second Circuit Court of Appeals ruled in December 2019 that Deutsche Bank was obligated to release Trump's financial records, with certain exceptions, to congressional committees. Trump was given a seven-day period to seek another stay pending a potential appeal to the Supreme Court.
2019: Potential Legal Repercussions from Global Laundromat Scandal
The Guardian reported in 2019 that a confidential internal report at Deutsche Bank revealed the potential for fines, legal action, and even prosecution of senior management due to the bank's role in the Global Laundromat money-laundering scandal.
2019: Raid and Fines for Suspicious Transactions
Following a raid in 2019, Frankfurt-based prosecutors fined Deutsche Bank $15.8 million in 2020 for failing to report suspicious transactions promptly on over 600 occasions.
January 2020: Deutsche Bank Reduces Bonus Pool at Investment Branch
In January 2020, Deutsche Bank announced a 30% reduction in the bonus pool for its investment banking division. This decision reflected the bank's ongoing restructuring efforts and a focus on cost control.
July 2020: Fine for Epstein-Related Transactions and Subsequent Tragedy
In July 2020, the New York Department of Financial Services (DFS) imposed a $150 million fine on Deutsche Bank for failing to adequately address red flags related to their dealings with Jeffrey Epstein. Tragically, later that month, the son of the judge presiding over Epstein's case was killed, and her husband was injured, in a shooting at their home.
2020: Deutsche Bank Achieves Profitability after Restructuring
Throughout 2020, Deutsche Bank implemented various restructuring measures and strategic initiatives that contributed to its return to profitability after six years. The bank's efforts resulted in a net profit, demonstrating the effectiveness of its turnaround strategy.
2020: Fine for Processing Dirty Money
Deutsche Bank's U.S. arm was fined $150 million in 2020 for processing over $150 billion of the $230 billion in illicit funds through New York, further implicating the bank in the Danske Bank scandal.
2020: Loans to Donald Trump
Deutsche Bank is known to be one of the largest creditors to Donald Trump, having lent him and his company over $2 billion during a 20-year period ending in 2020. The bank held more than $360 million in outstanding loans to Trump prior to his 2016 election.
2020: Negative Reputation Highlighted
A 2020 New Yorker article described Deutsche Bank's long-standing negative reputation among major banks due to its involvement in various scandals.
January 2021: Deutsche Bank Fined for Bribery and Commodities Fraud
In January 2021, Deutsche Bank agreed to pay a fine exceeding $130 million in the United States. The fine was levied due to the bank's involvement in a scheme to conceal bribes paid to foreign officials in countries including Saudi Arabia, China, and the city of Abu Dhabi between 2008 and 2017. The bank was also penalized for its role in a commodities case involving the manipulation of precious metals futures.
February 2021: Deutsche Bank Returns to Profitability
In February 2021, Deutsche Bank reported a net profit of €113 million ($135.6 million) for the fiscal year 2020. This marked the bank's first annual profit since 2014, signifying a positive turnaround after years of financial struggles.
March 2021: Deutsche Bank Sells Archegos-Related Holdings
In March 2021, Deutsche Bank successfully mitigated its exposure to the Archegos Capital Management collapse by selling approximately $4 billion of holdings acquired during the fund's implosion. The bank executed this sale through a private deal, allowing it to emerge relatively unscathed from Archegos's default on margin loans.
May 2021: Malaysia Sues Deutsche Bank for Alleged Losses in 1MDB Scandal
In May 2021, the Malaysian government filed a lawsuit against Deutsche Bank seeking to recover billions of dollars in losses allegedly stemming from the corruption scandal at the 1MDB fund.
2021: Severing Ties with Donald Trump
Deutsche Bank decided to end its business relationship with Donald Trump in early 2021, following the events of the January 6 United States Capitol attack.
February 2022: Impact of Russian Sanctions
Due to the shortage of shares in the Russian depository following the Ukraine invasion, Deutsche Bank announced in June 2023 that it could no longer guarantee customers access to shares they held via depositary receipts issued before February 2022. The bank warned that it might be forced to return funds for the shares at a price significantly below market value.
June 2023: Impact of Russian Sanctions
Due to the shortage of shares in the Russian depository following the Ukraine invasion, Deutsche Bank announced in June 2023 that it could no longer guarantee customers access to shares they held via depositary receipts issued before February 2022. The bank warned that it might be forced to return funds for the shares at a price significantly below market value.
July 2023: Financial Times Reports DWS Nearing Settlement in Greenwashing Allegations
In late July 2023, the Financial Times reported that DWS, an asset management firm 80% owned by Deutsche Bank, was approaching a settlement regarding allegations of greenwashing. DWS had allocated €21 million for the settlement and incurred €39 million in legal costs.