Deutsche Bank
About Deutsche Bank
Founded in Berlin in 1870 to finance German foreign trade. Deutsche Bank funded the Baghdad Railway, Northern Pacific Railroad, and German industrialization. The bank was broken up after World War II but reassembled. Deutsche Bank expanded aggressively into investment banking with the acquisitions of Morgan Grenfell in 1989 and Bankers Trust in 1998. The bank was a major player in derivatives and subprime mortgages. Deutsche Bank paid over 25 billion in fines and settlements related to mortgage securities, LIBOR manipulation, Russian money laundering, and the Danske Bank Estonia scandal. The bank has struggled profitability since 2015.
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