Deutsche Bank receives praise from regulator

Deutsche Bank - Foyer Bridge

German financial watchdog Bafin praised improvements at Deutsche Bank under chief executive John Cryan on Tuesday but a source close to the regulator said it was looking into money-laundering allegations involving bank clients in Russia.

"We see the bank as fully on the right track," Bafin's banking supervision head, Raimund Roeseler, told the regulator's annual news conference.

"The bank initiated appropriate measures to resolve the problems that we identified," he added.

Reuters reports that Cryan, a Briton who took the helm of the lender in July, has been working to restructure the business and end a raft of regulatory and legal tangles that helped push it to a record $7.97bn loss last year.

However, Bafin has started an audit following suspicions that surfaced last year of money laundering involving Deutsche Bank clients in Russia, a source close to the regulator said.

To access the complete Reuters article hit the link below:

German watchdog praises Deutsche Bank, probes Russia trades

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