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6 days ago | 
bloomberg.com | Laura Malsch |Arno Schütze
Bettina Orlopp(Bloomberg) -- Germany’s mortgage market has bounced back from an unprecedented slump and could now be poised to benefit from government plans to ramp up spending, according to Commerzbank AG Chief Executive Officer Bettina Orlopp. After higher borrowing and construction costs hit the housing market, the market for home loans has “clearly recovered,” Orlopp said Friday during an earnings call. “Price development is also more favorable than a year ago,” she said.
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1 week ago | 
bloomberg.com | Arno Schütze |Jillian Deutsch
Luka Mucic(Bloomberg) -- Vodafone Group Plc Chief Financial Officer Luka Mucic will step down by early next year to take a role running Germany’s largest landlord, Vonovia SE. Mucic, 53, was tapped to replace Vonovia’s longtime Chief Executive Officer Rolf Buch, Vonovia said in a statement Tuesday. Vodafone confirmed Mucic’s departure separately and said it has started a search for his successor.
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2 weeks ago | 
bloomberg.com | Arno Schütze |Nicholas Comfort |Noele Illien
(Bloomberg) -- Europe’s traders joined their Wall Street rivals in handing banks some of their best revenue hauls in years as President Donald Trump’s tumultuous trade policies rocked markets in recent months. UBS Group AG said Wednesday its markets unit generated a record $2.5 billion in the first three months of the year, while Barclays Plc’s stock traders recorded their best quarter since 2022.
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2 weeks ago | 
asreport.americanbanker.com | Arno Schütze |Oliver Crook
(Bloomberg) -- Deutsche Bank AG's trading unit hit a record in the first quarter as the lender benefited from market volatility. The fixed income and currencies business recorded a 17% revenue jump to €2.9 billion ($3.3 billion) in the three months through March, Deutsche Bank said on Tuesday. The result exceeded the average 5% increase across Wall Street and was the highest for the German lender since at least 2013, according to data compiled by Bloomberg.
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2 weeks ago | 
bloomberg.com | Arno Schütze |Harry Wilson
The Deutsche Bank headquarters in Frankfurt. (Bloomberg) -- First-quarter results at Deutsche Bank AG and HSBC Holdings Plc offered an early glimpse of how two of Europe’s biggest lenders are responding to the trade war hitting markets. The German lender added €70 million ($80 million) to its provisions in the first quarter specifically to reflect concerns over tariffs and the macroeconomic picture, Chief Financial Officer James Von Moltke said on an earnings call Tuesday.
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2 weeks ago | 
bloomberg.com | Arno Schütze |Oliver Crook
The headquarters of Deutsche Bank AG in Frankfurt, Germany, on Monday, Nov. 4, 2024. Germany Finance Minister Christian Lindner, leader of the free market-leaning FDP, issued a position paper on Friday calling for tax cuts and a slower approach to emissions reductions. Photographer: Alex Kraus/Bloomberg(Bloomberg) -- Deutsche Bank AG’s trading unit hit a record in the first quarter as the lender benefited from market volatility.
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3 weeks ago | 
news.bloomberglaw.com | Arno Schütze |Libby Cherry
Electronics-rental company Grover Group is nearing a restructuring deal that will see some creditors take over the majority of the equity of the German startup. Investors led by Fasanara Capital and M&G are poised to inject €30 million ($34 million) to €35 million in fresh funds, thereby taking over the bulk of the equity, according to people familiar with the matter. Existing shareholders will retain a stake of between 5% and 10%, the people said.
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3 weeks ago | 
bloomberg.com | Arno Schütze |Libby Cherry
Grover Group offices in Berlin. (Bloomberg) -- Electronics-rental company Grover Group is nearing a restructuring deal that will see some creditors take over the majority of the equity of the German startup. Investors led by Fasanara Capital and M&G are poised to inject €30 million ($34 million) to €35 million in fresh funds, thereby taking over the bulk of the equity, according to people familiar with the matter. Existing shareholders will retain a stake of between 5% and 10%, the people said.
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1 month ago | 
news.bloomberglaw.com | Karin Matussek |Arno Schütze |Sonia Sirletti
UniCredit SpA cleared the final hurdle to build its minority position in Commerzbank after Germany’s antitrust regulator gave unconditional approval to the plan. “The minority acquisition will strengthen UniCredit’s market position in the private and corporate banking business in Germany. We have therefore taken a close look at the segments affected,” Andreas Mundt, head of the Federal Cartel Office, said in a statement on Monday.
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1 month ago | 
bloomberg.com | Kamil Kowalcze |Arno Schütze
Markus Soeder, Friedrich Merz, Lars Klingbeil, and Saskia Esken, arrive for a news conference in Berlin, on April 9. (Bloomberg) -- Germany’s new government plans to use roughly €2 billion ($2.2 billion) that banks paid into a rescue fund after the financial crisis to support small and medium-sized enterprises. The decision is part of a coalition deal sealed on Wednesday that paves the way for Friedrich Merz, the leader of Germany conservative CDU/CSU bloc, to become chancellor.
