The mistake of Deutsche Bank

He transfers 28 billion to the wrong account
The mistake of Deutsche Bank
23 April 10:33 2018 Print This Article

The largest German bank, Deutsche Bank, has mistakenly transferred € 28 billion ($ 34 billion) in a transaction carried out just before Easter. The news was confirmed by the bank, which sent the money to the Eurex derivatives exchange and not to a client. The value of the erroneous transfer exceeds the market value of Deutsche Bank itself (24 billion euros, 30 billion dollars).

No damage was caused by the error, with the transaction canceled a few minutes after it was made. The bank claims to have examined the reasons for the error – made in the last days of the CEO John Cryan – and to have taken measures to prevent repetition.

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Nicole Volpe
Nicole Volpe

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