It will also initiate a cost-cutting programme, including staff reductions, so costs in 2020 would equal slightly rising costs this year.
On Monday it posted a 23% drop in third-quarter net profit from a year earlier to 176 million euros due to higher litigation and loan loss provisions, slightly above an average of 173 million euros forecast by a Reuters poll.
Last week, Estonian police found the body of Aivar Rehe, Danske Bank’s head in Estonia in 2006-2015, and confirmed Monday he had committed suicide.
Tim Parkes, managing director and lead fund manager at Raw Mortgage Fund, said: “OakNorth Bank has done a fair amount of property lending itself so has a great understanding of the sector, the performance of property assets and can structure a facil
The bank offers German customers a state-of-the-art platform and mobile app, featuring AI and machine learning technology, cloud-based systems and the highest security standards for usability and optimal customer experience.
The lender also aims to shut down 200 branches in Germany, following which, it will operate around 800 offices in the country.
Deutsche Bank plans to auction its equity derivatives portfolio next month having received significant expressions of interest from banks, private equity firms and hedge funds, the sources told Reuters.