Deutsche Bank`s representative told: «We have improved our risk system»
Deutsche Bank is a multinational investment bank and financial services company headquartered in Frankfurt, Germany. The bank operates in 58 countries in Europe, both Americas and Asia. On 2018 it was recognized the 15th largest bank in the world by its total assets.
Deutsche Bank`s shares are traded on the Frankfurt Stock Exchange and the New York Stock Exchange. As the largest German banking institution in the world, it is the component of various indices, including the DAX. With a 0.73% stake, it is currently the company with the lowest index weighting.
There are next institutions in Deutsche Bank: the Private & Commercial Bank, the Corporate & Investment Bank (CIB) and Asset Management (DWS)
According to recent figures, Deutsche Bank said recommendations made by the US proxy advisor Institutional Shareholder Services (ISS) did not reflect the current situation of the bank and its control environment.
The lender said in his statement: «While we acknowledge that there is still work ahead of us, we have significantly improved our risk and control systems in the last 3 years and we will continue to do so».
On Wednesday The Financial Times reported наISS advised Deutsche Bank shareholders to vote against discharging the board at the upcoming annual general meeting, appointing on May 23, citing its involvement in money laundering investigations.
Deutsche Bank, as well as specific employees, has frequently figured in controversies and allegations of deceitful behavior or illegal transactions.