Deutsche Bank warns of peril in borrowing from U.S. banks | Mtgfx

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Deutsche Bank warns of peril in borrowing from U.S. banks

Germany’s Deutsche Bank has a stark warning to Europ ean companies borrowing from U.S. lenders: They will drop you when times get tough.

has a stark warning to European companies borrowing from U.S. lenders: They will drop you when times get tough.”A number of European corporates are already realising the risks of not operating with companies that are long-term committed to the geographies … in which they operate,” he said, without citing any examples.

Last year, five of the largest U.S. banks – JPMorgan, Bank of America, Morgan Stanley, Goldman Sachs and Citigroup – captured a combined 35% share of the revenue for loans by German companies, up from 18% a decade earlier, data from Dealogic compiled for Reuters show.

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This Deutsche Bank? Lol Pot, meet kettle. want to see me without a bra?

WSJ News Exclusive | Jeffrey Epstein Accusers Sue Deutsche Bank, JPMorganWomen who accused Jeffrey Epstein of sexual abuse are saying the banks facilitated his alleged sex-trafficking operation and ignored red flags about their wealthy client. bad banks german horror All about the money Pray these women see true justice one day

Jeffrey Epstein accusers are suing Deutsche Bank and JPMorganJeffrey Epstein’s accusers are suing Deutsche Bank and JPMorgan, accusing them of ignoring ‘blatant red flags’ that enabled ‘commercial sex trafficking’

JPMorgan, Deutsche Bank Sued Over Jeffrey Epstein LinksThe lawsuits claimed Deutsche Bank and JPMorgan Chase benefited from and enabled Epstein’s alleged sex trafficking and ignored numerous red flags “in order to churn profits.” Happy Thanksgiving ❤️ ✨️ 🦃

Jeffrey Epstein sex abuse accusers sue JPMorgan, Deutsche Bank for alleged cover-upTwo women who accused Jeffrey Epstein of sexual abuse slapped JPMorgan and Deutsche Bank with separate lawsuits, claiming the financial giants chose profits over reigning in the convicted pedophile… Still amazing that some of the victims have not gone public with names or discretely given to an outlet to put out there. This reminds me…. Where TF is the client list?! how about you get your “journalists” to find it? Ghislaine is currently in prison for trafficking minors to nobody apparently. What a surprise!!!!! 😝

Women sue Deutsche Bank, JPMorgan over Epstein tiesWomen who have accused Jeffrey Epstein of sexual abuse filed lawsuits against Deutsche Bank AG and JPMorgan Chase & Co on Thursday, alleging the banks financially benefited from the late financier’s alleged sex trafficking operations. Epstein killed the only person he tracked to. Or so we’re told. I could be wrong, but isn’t Deutsche Bank the only bank that will do business with Trump anymore?

Jeffrey Epstein Accusers Sue Deutsche Bank, JPMorgan Chase for ‘Profiting’ Off TraffickingThe lawsuits, filed in New York claim the institutions overlooked several “suspicious” withdrawals and payments from Epstein’s bank accounts to profit off his alleged sex crimes—and to retain the business of wealthy clients associated with Epstein. Wow BillBarr daughter worked at Treasury to protect Trump’s tax returns, & loans at DeutscheBank Giuliani’s son got $363,000 to be WH sports liaison w/ no experience. IvankaTrump & Jared used the WH as $640 million bonanza. GreatReset Trump is the biggest groomer

The logo of Deutsche Bank is pictured on a company's office in London, Britain July 8, 2019.David Benoit Updated Nov..filed on Thursday, the latest effort to target the people and institutions surrounding Epstein as New York opens up a one-year window for adult sex abuse victims to file cases normally considered too old to pursue.

REUTERS/Simon Dawson/File Photo FRANKFURT, Nov 25 (Reuters) – Germany's Deutsche Bank (DBKGn.DE) has a stark warning to European companies borrowing from U., saying the banks facilitated Epstein’s alleged sex-trafficking operation and ignored red flags about their wealthy client.S. The Wall Street Journal first reported the story . lenders: They will drop you when times get tough. They were both brought by lawyers that have represented many of the late financier’s accusers. The caution, spelled out in an interview with Deutsche Bank board member Fabrizio Campelli, is the latest escalation in a battle with U.” JPMorgan Chase benefited from Epstein’s alleged sex trafficking from 1998 through August 2013, the lawsuit alleged, which said the bank kept Epstein on as a client after he registered as a lifetime sex offender in 2008 despite executives recommending the bank cut ties because he was “too valuable” to let go.

S. Continue reading your article with a WSJ membership. A spokesperson for Deutsche Bank told Insider in a statement:”We believe this claim lacks merit and will present our arguments in court. banks for the business of European firms on its home turf. It comes at a time that the corporate banking unit of Germany's largest lender is seeing a resurgence in the home stretch of an extensive restructuring. "A number of European corporates are already realising the risks of not operating with companies that are long-term committed to the geographies .  “To put it plainly, Epstein needed a bank that knew he was engaging in illegal activity and did not care – because the bank only cared about the money that it was making from its relationship with Epstein,” the lawsuit said of JPMorgan..

. in which they operate," he said, without citing any examples. JPMorgan didn’t immediately respond to a request for comment from Insider. Campelli, who oversees Deutsche's corporate division as well as the investment bank that powered Deutsche through the overhaul, said U.S. banks "tend to flex lending up and down depending on circumstances". Lawyers for the plaintiffs are pursuing unspecified damages from the banks.

"There was evidence of non-German banks in this country taking lending off the table while German banks were going longer-credit during the pandemic, in 2020," he added, again without citing examples. Last year, five of the largest U.S. We need your help to do right by these courageous survivors. banks – JPMorgan, Bank of America, Morgan Stanley, Goldman Sachs and Citigroup – captured a combined 35% share of the revenue for loans by German companies, up from 18% a decade earlier, data from Dealogic compiled for Reuters show. Deutsche Bank Chief Executive Christian Sewing recently warned of the "danger" of European reliance on foreign banks, equating the threat to the region's dependence on outsiders for energy.

Deutsche Bank has long highlighted a need for Europe to have strong banks to vie with U.S. and Chinese competitors, but the latest rhetoric signals a more aggressive tone. Campelli called for a "concerted approach" by politicians and regulators to support European banks. TIDE IS TURNING In 2019, Deutsche embarked on a revamp, promising to shift away from its volatile investment bank and towards its more staid businesses that serve corporations and individuals.

Having long struggled to deliver on that pledge, the tide, buoyed by rising interest rates, is turning. Higher borrowing costs are fattening profits from regular banking, although war, runaway prices and energy costs cloud the horizon. "We're now getting there," said Campelli, who previously oversaw the overhaul. "Did we rely more on the investment bank during ..

. 2020-21 than we initially expected? Yes. We're starting to see a much more balanced earnings mix." U.S.

banks reject the criticism. JPMorgan, now one of the largest banks in Germany, says it is committed. Stefan Behr, head of JPMorgan's operations in Europe, told Reuters he hasn't seen any pushback on its growth in Germany and noted that "many of the German banks work with us on deals as well as us being a banking partner to them." "There's competition for every deal. And when they don't win it, I'm sure that they're not happy about it, just like we're not happy if we lose a mandate," Behr said.

Citigroup's head in Germany Stefan Hafke told Reuters that its client base in Germany is made up of "very long-term, sustainable relationships." He said he wanted strong European banks in Germany and pushed back on being a mere U.S. bank. "We are operating on an equal footing with anyone else," he said.

Goldman, whose headcount in Germany has surged in recent years, declined to comment. Morgan Stanley did not immediately respond to a request for comment. A spokesperson for Bank of America said Germany was critically important to its strategy, saying: "There is no pullback." Editing by John O'Donnell and David Holmes Our Standards: Tom Sims Thomson Reuters Covers German finance with a focus on big banks, insurance companies, regulation and financial crime, previous experience at the Wall Street Journal and New York Times in Europe and Asia. Read Next / Editor's Picks .



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