Deutsche Bank AG, one of the world's largest finance institutions, has been ordered to pay a $2.5 billion fine for its alleged participation in a Libor rigging scandal.
The fine follows more than two years of investigations surrounding the bank's questionable calculation of interest rates used in the analysis of credit and stability.
Deutsche Bank "wouldn't have gone into the negotiation phase and would have tried to settle much quicker," said Christopher Wheeler, a banking analyst at Atlantic Equities LLP in London, according to Bloomberg.
"But I think there was a view that they felt they had a case."
The German finance institution allegedly did not work with regulators to resolve investigation queries and dodged probes following the appointment of co-Chief Executive Officer Anshu Jain. Jain, a veteran of the rates trading and investment banking industries, began working for the company in May 2012.
The United Kingdom Financial Conduct Authority also claims Deutsche Bank often misled regulators and was slow and ineffective with the information they provided.
The company's shares have decreased by five percent since the first quarter of fiscal year 2014.
"Anshu Jain's future depends on the outcome of the remaining legal cases," Keefe, Bruyette & Woods Inc. analyst Alevizos Alevizakos said, Bloomberg also reports.
"Even if they get the strategy right, there may be some managerial changes beyond their control."
Deutsche Bank was established in 1870 and is based in Frankfurt, Germany.
