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MarketScreener Homepage  >  Equities  >  Xetra  >  Deutsche Bank AG    DBK   DE0005140008

DEUTSCHE BANK AG

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Deutsche Bank : could settle Libor probe this month - source

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04/09/2015 | 06:38pm EDT

(Reuters) - Deutsche Bank AG (>> Deutsche Bank AG), which faces allegations that it tried to rig the Libor benchmark interest rate, could settle with U.S. and UK authorities as early as this month, a source familiar with the matter said.

(Reuters) - Deutsche Bank AG (>> Deutsche Bank AG), which faces allegations that it tried to rig the Libor benchmark interest rate, could settle with U.S. and UK authorities as early as this month, a source familiar with the matter said.

The penalties are likely to exceed $1.5 billion (1 billion pounds), the amount UBS Group AG (>> UBS Group AG) paid in 2012, the source said.

Negotiations also involve the possibility of a Deutsche UK subsidiary pleading guilty, the person said.

Deutsche bank executives could be targeted for discipline, but many of them have already left the bank, the source said.

Germany's largest lender may be among the last to settle with the authorities over the Libor manipulation scandal.

New York's Department of Financial Services is also involved in the Deutsche Libor probe, unlike in the case of the other banks.

"We continue to work with the authorities that are reviewing interbank offered rates matters," Michele Allison, a spokeswoman for the bank said in a statement, but declined to comment further.

U.S. Justice Department spokesman Peter Carr declined to comment on any potential agreement.

Deutsche Bank already settled with European antitrust regulators over Libor and its euro equivalent Euribor last year, agreeing to pay 725 million euros. Deutsche Bank, the world's second-largest foreign exchange trader, is also under investigation by U.S. authorities over other practices, including possible manipulation of emerging markets currency rates.

Steven Adamske, a spokesman for the U.S. Commodity Futures Trading Commission, which is also involved in the probe, declined comment.

Ronald Klug, a spokesman for New York's Department of Financial Services, declined comment.

(Additional reporting by Amrutha Gayathri in Bengaluru)

By Karen Freifeld

Stocks treated in this article : Deutsche Bank AG, UBS Group AG
Stocks mentioned in the article
ChangeLast1st jan.
DEUTSCHE BANK AG -1.31% 7.215 Delayed Quote.4.94%
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Financials (EUR)
Sales 2019 23 674 M
EBIT 2019 -1 665 M
Net income 2019 -5 317 M
Finance 2019 10 342 M
Yield 2019 -
P/E ratio 2019 -3,03x
P/E ratio 2020 43,0x
EV / Sales2019 0,19x
EV / Sales2020 -0,31x
Capitalization 14 899 M
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Number of Analysts 27
Average target price 6,55  €
Last Close Price 7,23  €
Spread / Highest target 24,5%
Spread / Average Target -9,36%
Spread / Lowest Target -44,7%
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Christian Sewing Chief Executive Officer
Karl von Rohr Co-President & Chief Administrative Officer
Garth Ritchie Co-President & Co-Head-Corporate & Investment Bank
Paul Achleitner Chairman-Supervisory Board
Frank Kuhnke Chief Operating Officer & Member-Management Board
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