Behind Deutsche Bank’s rosy earnings lurk persistent risks – from €1.2B in Russian exposure to a US probe that could bring $500M in fines.
Lingering Liabilities
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Russia: 17% of provisions remain despite €4B write-downs
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Commercial Real Estate: €8B portfolio with 22% vacancy risk
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Litigation: 14 ongoing major cases including Epstein ties
Revenue Risks
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NII Pressure: ECB rate cuts could cost €700M annually
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Trading Volatility: Q1 performance unlikely to repeat
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Wealth Outflows: €4B from Middle East clients
Regulatory Shadows
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SEC Probe: ESG fund misstatements investigation
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BaFin Audit: Anti-money laundering controls deficient
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Fed Scrutiny: US operations still “problematic”
