Deutsche Bank to assess options for possible Postbank settlement

By Thomson Reuters Apr 28, 2024 | 2:42 PM

FRANKFURT (Reuters) – Deutsche Bank said on Sunday that it would “carefully assess” options for a possible settlement in litigation over its takeover of Postbank that has required it to make provision for claims of up to 1.3 billion euros ($1.39 billion).

Germany’s largest lender made the statement as part of a Q&A for investors posted on its website.

“We will continue our legal analysis and … carefully assess our options for a potential settlement. We have not made any decisions in this regard yet,” it said.

Late Friday, the bank announced it would be making an undisclosed provision in the years-old case, affecting its earnings, after a court hearing earlier that day indicated “that it may find elements of these claims valid in a later ruling”.

In addition, Deutsche said in its disclosure on Sunday that it was too early to know whether it would apply for another share buyback in 2024.

($1 = 0.9353 euros)

(Reporting by Tom Sims; Editing by Andrew Cawthorne)