Frankfurt — Germany’s biggest lender Deutsche Bank will face renewed investigations on Thursday, as investors pore over its third-quarter results after being hit with a multi-billion-dollar fine by the US Department of Justice. "It will be important to keep an eye on growth in provisions for legal risks," Equinet analyst Philipp Haessler said. News of a $14bn demand from the Department of Justice over Deutsche’s role in the subprime mortgage crisis sent shares in the bank plunging to a historic low of €9.90 ($10.75) in late September and reawakened fears for the wider European banking sector. The figure is far higher than the €5.5bn of provisions Deutsche has set aside to cover about 8,000 outstanding legal cases worldwide. US banks have settled for far less in similar cases, and a source told AFP in late September that Deutsche was in talks on bringing the fine down to about €5.4bn, although the final figure could still change. Deutsche shares have climbed back to their previous le...
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