Deutsche Bank assigns €1bn to offload its ‘bad bank’ derivatives
The bank is assessing interest in the assets before repackaging some for sale and will run a formal auction of its equity derivatives book
02 August 2019 - 17:52
New York — Deutsche Bank has set aside more than €1bn to cover the cost of offloading derivatives in its “bad bank”, or capital release unit, three sources at the bank have said.
The cost, which has not been publicly disclosed, is included within the €7.4bn budget the German lender has set aside for its restructuring, which will also see 18,000 jobs axed as the bank exits unprofitable businesses...
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