Deutsche Bank AG Top dog Christian Sewing last year launched an extra internal investigation on the lender’s role as correspondent bank for scandal-ridden Danske Bank’s Estonian unit, despite the fact that he hasn’t seen any proof of wrongdoing.
The bank had previously probed its role in the case and even any involvement in a tax evasion scheme known inside the Panama Papers “long ahead of the cases became public”, Sewing said within an event in Berlin on Tuesday. He stated the lending company has revived its investigation but urged the guests to not ever “prejudge” your banker and employees and presume their innocence until proven guilty.
Deutsche features a “strong need for continuing to empty up” the 2 cases, Sewing said. But “we haven’t any indications thus far for the wrongdoing on our part” either in instance, he explained.
Scrutiny of Deutsche Bank’s involvement in the two caser intensified in November and December and contributed to a steep decline in its stock price as investor worry about potential future legal bills increased. The bank’s headquarters in Frankfurt were raided at the end of November by 170 police officers seeking details on the Panama Papers along with the event enjoyed a negative affect the bank’s revenue in the fourth quarter, Chief Financial Officer James von Moltke previously told Bloomberg.
“We develop the highest fascination with regaining lost trust,” Sewing said in her speech Tuesday. “And we’ve been thankful to the many clients who have stood by us in past times weeks likewise.”
The bank’s shares were up as up to 2.4% on Wednesday and traded 1.8% higher at 10:16 am.
? 2019 Bloomberg L.P