deutsche bank buys back lessthanexpected 740m of own bonds
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Deutsche Bank buys back less-than-expected $740m of own bonds

Arab Today, arab today

Arab Today, arab today Deutsche Bank buys back less-than-expected $740m of own bonds

Deutsche Bank buys back $740 mn of its own dollar-denominated bonds
Frankfurt - AFP

Deutsche Bank, Germany's biggest lender, said Monday it has bought back $740 million (680 million euros) of its own dollar-denominated bonds as part of a bid to assuage concerns about the solidity of its finances, but the amount was smaller than expected.

Earlier this month, the bank announced plans to repurchase up to $2.0 billion of dollar-denominated securities, as well as 3.0 billion euros of euro-denominated securities.

The moves were part of a multiple offensive to allay fears which also saw its new chief executive John Cryan take the unusual step of issuing a public statement and writing to Deutsche Bank's employees to say that the group "remains absolutely rock-solid, given our strong capital and risk position."

In a short statement on Monday, Deutsche Bank said that investors had tendered a total $740 million of dollar-denominated bonds for it to buy back.

It already bought back 1.27 billion euros of euro-denominated bonds last week.

"The relatively low investor participation in the public tender offers for both the euro-denominated and US dollar-denominated securities tendered reflects improved market sentiment and an investor preference to retain exposure to Deutsche Bank," the statement said.

The entire European banking sector lost about a fifth of its market capitalisation in January, dragged down by weakness in the eurozone economy and challenges facing banks from ultra-low interest rates and regulatory pressures.

But Deutsche Bank has taken a bigger battering because it is also entangled in a web of legal woes. Its share price has plunged by a third since the beginning of the year.  

The bank faces a quagmire of as many as 6,000 different litigation cases, the provisions for which helped push it to a record loss of 6.8 billion euros last year.  

It was fined last May a record $2.5 billion for its involvement in rigging interest rates, and has faced probes by Swiss authorities for suspected price fixing on the precious metals market.

US investigators have also looked into its Moscow branch on suspicion of possible involvement in money laundering.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

deutsche bank buys back lessthanexpected 740m of own bonds deutsche bank buys back lessthanexpected 740m of own bonds

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

deutsche bank buys back lessthanexpected 740m of own bonds deutsche bank buys back lessthanexpected 740m of own bonds

 



GMT 10:06 2012 Saturday ,28 July

Querrey advances at ATP LA Open

GMT 21:15 2017 Thursday ,01 June

Trump condemns deadly Kabul explosion

GMT 02:15 2017 Thursday ,24 August

Is your country on the Qatar free entry list of 80?

GMT 19:48 2016 Monday ,03 October

Controversial boxing champ Tyson Fury retires

GMT 08:20 2015 Tuesday ,08 December

PC market woes show no sign of easing

GMT 17:27 2017 Tuesday ,25 April

20 Yemeni soldiers killed, injured in explosion

GMT 11:52 2017 Saturday ,30 December

OIC condemns Mar Mina Church attack

GMT 00:03 2017 Saturday ,25 March

Arab Meeting to Examine Anti-Corruption Methods

GMT 13:12 2017 Thursday ,20 April

Deputy premier meets Arab League chief

GMT 14:13 2014 Friday ,10 January

Opel Astra GTC

GMT 18:27 2016 Tuesday ,02 August

Turkish Foreign Minister arrives in Islamabad

GMT 11:27 2016 Tuesday ,13 December

Saudi woman arrested for challenging social norms
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday