In 2016, Deutsche Bank agreed to pay a $7.2 billion settlement to the U.S. Department of Justice for mis-selling mortgage-backed securities before the financial crisis. The scandal hurt the bank’s balance sheet and more broadly confidence towards the lender.
Deutsche Bank reported a surprising increase in profits in the second quarter of 2017 though revenues fell short of market expectations. John Cryan, chief executive of Deutsche Bank, said last month that “despite the significant improvement, this level of profitability falls short of our longer term aspirations.”
UBS remained at the top of the ranking on Monday. With $2.06 trillion of assets under management, the Swiss lender is the world’s biggest private bank.