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Jharkhand assembly election 2019 candidate list of BJP, Congress, JMM, JVM and AJSU

<p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Kai Pfaffenbach/Reuters</span></p><p class="caption">A statue is pictured next to the logo of Germany's Deutsche Bank in Frankfurt, Germany, September 30, 2016.</p></div><p></p></div></div></p><ul><li><strong>Deutsche Bank's head of emerging market debt trading Sean Bates left the bank last week, according to people familiar with the matter.</strong></li><li><strong><strong>The German lender has been shuffling key executives in the last several weeks under new CEO Christian Sewing. </strong></strong></li></ul><p>The turnover in Deutsche Bank's trading business continues. <br /><br />Sean Bates, the bank's London-based global head of emerging market debt trading, left the bank last week, according to people with knowledge of his departure. He'll be replaced by James Davies, head of structuring in the fixed-income and currencies department, one of the people said. <br /><br />Deutsche Bank has been shuffling major executives in the last several weeks after the appointment of new CEO Christian Sewing. The CEO, who replaced former chief executive John Cryan in April, has said the bank will scale back its ambitions after three years of losses. The bank is looking at various ways to cut costs and pull out of businesses where it isn't profitable.<br /><br />As head of emerging market debt trading, Bates was a managing director. He had reported directly to Ram Nayak, head of fixed-income for the Frankfurt-based bank until taking on a new role as <span>head of risk and resource management earlier in May. Nayak was replaced by John Pipilis. </span><br /><br />A number of key Deutsche executives have also exited the bank in the last several weeks, including investment banking co-head Marcus Schenck. <br /><br />Earlier in May, Deutsche Bank <a href="http://www.businessinsider.com/deutsche-bank-just-named-a-new-sales-head-of-its-trading-division-2018-5">named</a> a new US head of a group that distributes fixed income and equities products to clients, tapping John O'Brien as head of the institutional client group in the Americas, according to an internal memo viewed by Business Insider.</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/social-entrepreneurship-venture-capitalist-ross-baird-investing-2018-5">80% of start-up money goes to three states - here's what one visionary is doing to help spread the wealth</a></h3>        <div>                    </div>    </div>

Deutsche Bank just waved farewell to its emerging market debt trading chief as cuts begin to mount

Amid the ongoing startup gloom comes good news in fintech unicorn <keyword id="19944449" type="General" weightage="20" keywordseo="incred" source="keywords">Incred</keyword> which has posted Rs 109 crore in profit in FY23 as compared to Rs 31 crore in FY22, a more than 3.5 times growth. <br /><br />Incred's revenue surged 77.46 per cent to Rs 866 crore during FY23 from Rs 488 crore in FY22, according to its financials with the Registrar of Companies (RoC). <br /><br />The finance cost (interest expenses) was up 62.6 per cent to Rs 356 crore in FY23 from Rs 219 crore in FY22, as the company scaled its operations, according to an Entrackr report. <br /><br />Incred has likely built a loan book of Rs 7,500 crore within the last six years. <br /><br />Late last month, the fintech lender became India's second unicorn of 2023 (the other being quick commerce startup <keyword id="19939134" type="General" weightage="20" keywordseo="zepto" source="keywords">Zepto</keyword>) after raising $60 million from new and existing investors. <br /><br /><keyword id="20112130" type="General" weightage="20" keywordseo="incred-wealth" source="keywords">InCred Wealth</keyword>, the wealth management subsidiary of InCred, led the funding round with investing $36.76 million, followed by MEMG Family Office at $9 million. <br /><br />Ravi <keyword id="20112129" type="General" weightage="20" keywordseo="pillai" source="keywords">Pillai</keyword>, Chairman at RP Group of Companies, and <keyword id="19960548" type="General" weightage="20" keywordseo="ram-nayak" source="keywords">Ram Nayak</keyword>, Co-Head of Deutsche Bank, invested $5.4 million and $1.2 million, respectively. <br /><br />InCred Special Opportunities Fund VCC, Singapore-registered entity of InCred, Varanium Capital Advisors and NABS <keyword id="20112128" type="General" weightage="20" keywordseo="vriddhii" source="keywords">Vriddhii</keyword> also participated in the round. <br /><br />With this funding, InCred is now valued at more than $1.03 billion. <br /><br />The firm last raised $68 million in a debt funding round from public sector banks and public financial institutions. <br /><br /><keyword id="19901323" type="General" weightage="20" keywordseo="zomato" source="keywords">Zomato</keyword> in 2022 entered into a strategic partnership with fintech lender InCred for "hassle-free" credit facilities. <br /><br /><b>SEE ALSO:<a href="https://www.businessinsider.in/business/auto/webstories/mercedes-benz-gls-gets-11-lakh-more-expensive-in-india-after-facelift/slidelist/106637475.cms" target="_blank"></a></b><br /><br /> <b><a href="https://www.businessinsider.in/business/auto/webstories/mercedes-benz-gls-gets-11-lakh-more-expensive-in-india-after-facelift/slidelist/106637475.cms" target="_blank">Mercedes-Benz GLS gets ₹11 lakh more expensive in India after facelift</a><a href="https://www.businessinsider.in/sports/webstories/indias-t20-squad-for-afghanistan-show-world-cup-trials-are-on/slidelist/106633092.cms" target="_blank"></a></b><br /><br /> <b><a href="https://www.businessinsider.in/sports/webstories/indias-t20-squad-for-afghanistan-show-world-cup-trials-are-on/slidelist/106633092.cms" target="_blank">New and veteran names in India’s T20 squad for Afghanistan show World Cup trials are on</a><a href="https://www.businessinsider.in/business/auto/webstories/top-10-electric-cars-sale-in-india-in-december-2023/slidelist/106627784.cms" target="_blank"></a></b><br /><br /> <b><a href="https://www.businessinsider.in/business/auto/webstories/top-10-electric-cars-sale-in-india-in-december-2023/slidelist/106627784.cms" target="_blank">Tata Motors dominates the EV car market in December with Tiago leading the charge</a></b><br />

Fintech unicorn Incred logs Rs 109 cr profit in FY23, revenue up over 77%

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span><a href="http://pictures.reuters.com/C.aspx?VP3=SearchResult&amp;VBID=2C0BXZ0BR29KX&amp;SMLS=1&amp;RW=1527&amp;RH=896#/SearchResult&amp;VBID=2C0BXZ0BR29KX&amp;SMLS=1&amp;RW=1527&amp;RH=896&amp;POPUPPN=25&amp;POPUPIID=2C0BF1IQK0_X">REUTERS/Christian Hartmann</a></span></p><p class="caption">Deutsche Bank CEO John Cryan</p></div><p></p></div></div>Deutsche Bank has a new line-up at the top of its huge markets business, as the bank's CEO embarks on a <a href="http://www.businessinsider.com/deutsche-bank-q3-results-highlights-john-cryans-plan-to-turnaround-deutsche-bank-2015-10">massive restructuring plan</a>.</p><p>The shakeup includes the appointment of Ram Nayak to head a new debt trading unit that will combine rates, credit, foreign exchange, emerging market debt and structured finance trading.</p><p>The appointment was announced in an <span>internal memo sent to staff, according to a Deutsche Bank spokesman. </span></p><p>Nayak was previously head of structuring and chairman of emerging markets. </p><p>Tom Humphrey, who had been global head of credit and head of corporate banking and securities in the Americas, has decided to step down, according to people familiar with the situation. Humphrey is a Wall Street veteran who previously worked at Lehman Brothers. He joined <a href="http://www.wsj.com/articles/deutsche-bank-hires-lehman-veteran-tom-humphrey-1409779035">Deutsche Bank just over a year ago.</a></p><p>Thomas Patrick has been named head of global equities, while John Pipilis and Chetankumar Shah have been named co-heads of global credit trading. Regionally, the markets business will be led by Zia Huque in the Americas, Michael Ormaechea in Asia Pacific, Tiina Lee in the UK and Dirk Schmitz in Germany. </p><p>Other key roles include Sam Wisnia, who will head rates in Europe and the Americas, and will head FIC structuring and strategic analytics, and Ahmet Arinc, head of foreign exchange and emerging market debt. Dixit Joshi will become head of the institutional client group for debt. </p><h2>Restructuring</h2><p>The appointments follow the restructuring of what was corporate banking and securities into global markets and corporate and investment banking.  Colin Fan, who had had responsibility for sales and trading under the CB&amp;S construct, left the bank, and equities specialist Garth Ritchie was appointed head of global markets. </p><p>The bank <a href="http://www.businessinsider.com/-deutsche-bank-corporate-investment-banking-leadership-2015-11">also named a new leadership line-up for the corporate and investment banking business</a> on Thursday. </p><p>Deutsche Bank named <span>John Cryan CEO in June, to replace Anshu Jain. </span></p><p>The German bank said it would take a number of steps to improve returns in the global markets business, including exiting the agency residential mortgage backed securities trading business. It also said it would rationalize a number of businesses in fixed income and currencies.</p>

The head of Deutsche Bank's US investment bank is leaving in a big shake-up

<p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>REUTERS/Kai Pfaffenbach</span></p></div><p></p></div></div></p><ul><li><strong>Raj Bhattacharyya is leaving Deutsche Bank after a variety of senior roles in fixed income during a 17-year career at the firm. </strong></li><li><strong>He was most recently head of the emerging-market debt and foreign-exchange business in the Americas, according to an internal memo. </strong></li></ul><p><span></span><span><span>Deutsche Bank has lost another senior fixed-income executive as staff turnover continues to plague the German bank. <br /><br />Raj Bhattacharyya, the head of the emerging-market debt and foreign-exchange business in the Americas, is leaving the firm after 17 years, according to an internal memo seen by Business Insider. <br /><br /></span></span><span><span>Bhattacharyya joined Deutsche Bank in 2001 and at one point helped colead the debt capital markets group for North America, according to the memo. A Deutsche Bank spokeswoman confirmed the memo's contents and declined to comment further. <br /><br />Bhattacharyya is a member of a small group of the world's wealthiest and most successful traders who have been able to obtain an ISDA master agreement for themselves, allowing them to trade as individuals in the complex world of derivatives normally reserved for institutions, Bloomberg News <a href="https://www.bloomberg.com/news/features/2018-05-03/inside-the-world-s-most-elite-and-secret-traders-club">reported</a> last month. He was able to obtain the agreement to trade as a client of Deutsche Bank in addition to being an employee, the report said. <br /><br />Bhattacharyya is just the latest trader to leave Deutsche Bank as newly named fixed-income chief </span></span>Ioannis "John" Pipilis moves to put his mark on a business that has traditionally been the power center at the Frankfurt-based firm's trading operations. Pipilis replaced Ram Nayak, who had run the operation since 2015.<br /><span><br />Sean Bates, the bank's London-based global head of emerging market debt trading who had reported to Nayak, left last month,<a href="http://www.businessinsider.com/deutsche-bank-lost-emerging-market-debt-trading-chief-as-ceo-struggles-with-talent-2018-5"> Business Insider previously reported. </a><br /><br />Deutsche Bank has been shuffling major trading executives in the last several weeks after the appointment of new CEO Christian Sewing. Sewing, who replaced former chief executive John Cryan in April, has said the bank will scale back its ambitions after three years of losses and<a href="http://www.businessinsider.com/r-deutsche-bank-to-cut-thousands-of-staff-in-investment-bank-revamp-2018-5"> he's already announced a plan to cut more than 7,000 employees.</a><br /></span></p>     <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/jpmorgan-chase-cmo-kristin-lemkau-interview-2018-5">THE KRISTIN LEMKAU INTERVIEW: JPMorgan Chase's CMO explains how she deals with disruption on two fronts at once, why she's moving some ad dollars back to TV, and why it matters what your credit card feels like</a></h3>        <div>                    </div>    </div>

Deutsche Bank has lost a senior fixed-income executive as staff departures continue

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span>REUTERS/Luke MacGregor</span></p><p class="caption">Workers sweep leaves outside Deutsche Bank offices in London December 5, 2013. </p></div><p></p></div></div>Chris Yoshida, the global head of rates sales at Deutsche Bank, is in talks over his future at the bank, according to people familiar with the matter.</p><p>Yoshida was hired to <a href="http://www.businesswire.com/news/home/20140527005701/en/Deutsche-Bank-Hires-Chris-Yoshida-Global-Head">that role in May 2014</a> from Morgan Stanley, where he had been head of interest rate distribution in Europe, the Middle East and Africa. </p><p><span>Deutsche Bank declined to comment. Yoshida did not return calls seeking comment in time for publication. </span></p><p>The talks over a potential exit follow a shake-up at Deutsche Bank's trading business and a torrid time for the German bank. </p><p>Business Insider reported Monday that Deutsche Bank is <a href="http://www.businessinsider.com/deutsche-bank-slashes-fixed-income-75-jobs-cut-in-london-and-new-york-2016-2">firing 75 fixed income staff this week. </a></p><p>The bank announced a new line-up at the top of the <a href="http://www.businessinsider.com/deutsche-bank-has-named-ram-nayak-head-of-fixed-income-2015-10">markets business in November</a>.</p><p><span>Ram Nayak was appointed to head a new debt-trading unit that combined rates, credit, foreign exchange, emerging-market debt, and structured-finance trading. </span></p><p>Dixit Joshi was handed the role of head of the institutional client group for debt, overseeing the salesforce for fixed income products. He later named a <a href="http://www.efinancialnews.com/story/2016-01-19/deutsche-bank-dixit-joshi-names-new-executive-committee">new executive committee for that team.</a> </p><p>The German bank last month announced a <a href="http://www.businessinsider.com/deutsche-bank-q4-2015-results-losses-litigation-job-losses-2016-1">loss of $7.4 billion for 2015</a>.</p><p>The Frankfurt-based firm's share price reached record lows after the release, and <span>on the bank later </span><a href="https://www.db.com/newsroom_news/2016/ghp/a-message-from-marcus-schenck-deutsche-bank-s-additional-tier-1-at1-capital-en-11386.htm">issued a statement</a><span> to reassure investors.</span></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/oprah-winfrey-worth-3-billion-spends-earns-money-strategy-finance-careers-2016-2">How Oprah Winfrey earns and spends her billions</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="9xcmsyMTE6qNqzvyWoGH26jaZufIuHaT" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

One of Deutsche Bank's big name trading execs is in talks to leave the bank

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span>Thomson Reuters</span></p><p class="caption">Deutsche Bank CEO John Cryan.</p></div><p></p></div></div>Deutsche Bank's head of US rates sales, Bryan North-Clauss, has left the firm, according to two people familiar with the matter.</p><p>North-Clauss <a href="http://www.businesswire.com/news/home/20150714006111/en/Deutsche-Bank-Hires-Bryan-North-Clauss-Head-Rates">joined the firm in September</a> from Morgan Stanley.</p><p>He was based in New York and originally reported to Chris Yoshida, who was the global head of rates sales before leaving the firm in March.</p><p>Deutsche Bank's rates-trading business, which had targeted ambitious revenue growth in 2016, suffered from a tough start to the year. The business focuses on the trading of government debt and interest-rate derivatives.</p><p><span><span>The bank announced a new lineup at the top of the</span> <a href="http://www.businessinsider.com/deutsche-bank-has-named-ram-nayak-head-of-fixed-income-2015-10">markets business in November</a>. Ram Nayak was appointed to lead a new debt-trading unit that combined rates, credit, foreign exchange, emerging-market debt, and structured-finance trading.</span> <span>Sam Wisnia heads rates in Europe and the Americas.</span></p><p>It then <span>found itself the subject of speculation in February as investors fretted over its ability to pay the coupon on contingent bonds, and credit default swaps on the bank's debt widened dramatically.</span></p><p><span><span>CEO John Cryan said earlier this year that the bank may not be profitable in 2016. He added that markets revenues were </span><span>"obviously going to be down in the quarter because everyone else's are, but we're exiting lots of businesses too."</span></span></p><p><span><span>The firm <a href="http://www.businessinsider.com/deutsche-bank-second-quarter-results-revenue-profit-net-income-all-fall-2016-7">reported second-quarter earnings this week</a> and saw profits nosedive to just 20 million euros, or $22 million, from 800 million euros in the same period last year.</span></span></p><p>Deutsche Bank declined to comment.</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/malcolm-gladwell-revisionist-history-donate-princeton-vassar-bowdoin-tipping-point-outliers-blink-2016-7">MALCOLM GLADWELL: 'Anyone who gives a single dollar to Princeton has completely lost their mind'</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="tlNzV5NDE68LblejgkI-6sByYCuoiDZ7" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

One of Deutsche Bank's biggest hires of 2015 just left

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image"><p class="source"><span>REUTERS/Luke MacGregor</span></p><p class="caption">Deutsche Bank offices in London seen in 2013.</p></div><p></p></div></div></p><p>Net income at Deutsche Bank fell 58% in the first quarter of 2016 to €236 million (£183 million).</p><p>The bank had made €559 million in the same period (January to March) last year.</p><p>While it sounds bad, it could have been about half a billion euros worse - analysts expected a loss of €249 million, according to a Reuters poll.</p><p>John Cryan, co-CEO of Deutsche Bank, said: "Financial markets were challenging during the first quarter, largely reflecting concerns about the outlook for the global economy."</p><p>"This uncertainty led to a decline in client activity in the capital markets, and our revenues fell from the prior year, most notably in our trading and corporate finance businesses. Our results reflect these challenging conditions as well as the impact of our strategic decisions to exit or reduce significantly selected businesses," Cryan said in a statement on Thursday.</p><p>The drag on revenue and profit came mostly from the investment banking and markets division. Debt sales and trading revenues were €2 billion euros, down 29% year-on-year. Equity sales and trading revenues saw the same 29% drop to €728 million.</p><p>Deutsche Bank has had a volatile year.</p><p>The bank announced a new lineup at the top of the <a href="http://www.businessinsider.com/deutsche-bank-has-named-ram-nayak-head-of-fixed-income-2015-10">markets business in November</a>. Ram Nayak was appointed to lead a new debt-trading unit that combined rates, credit, foreign exchange, emerging-market debt, and structured-finance trading. Sam Wisnia heads rates in Europe and the Americas.</p><p>It then found itself the subject of speculation in February as investors fretted over its ability to pay the coupon on contingent bonds, and credit default swaps on the bank's debt widened dramatically.</p><p>Shares were up on the news in early trading on Thursday:</p><p><span><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Investing</span></p></div><p></p></div></div></span></p>     <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/property-brothers-what-tricky-real-estate-code-words-really-mean-2016-4">Be sure to learn the actual meaning of these real estate 'code words' before looking for a new place</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="pwMHIzMzE6ScSRLxmN5b0zjEe3_Nvmgy" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

Deutsche Bank's profit plunged 58% in 'challenging' markets

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span><a href="https://www.flickr.com/photos/istolethetv/1088821792/">istolethetv via Flickr</a></span></p></div><p></p></div></div>Deutsche Bank is suffering - it lost <a href="http://www.businessinsider.com/deutsche-bank-q4-2015-results-losses-litigation-job-losses-2016-1">£5.1 billion ($7.4 billion) in 2015</a>, shares tumbled, it is cutting thousands of jobs to shore up costs, and some of its <a href="http://uk.businessinsider.com/deutsche-bank-rates-business-2016-2">key businesses continue to suffer</a>.</p><p>So it comes as no surprise that it slipped down a prominent <a href="https://www.coalition.com/index_and_league_tables.html">investment banking league table by research house Coalition</a>. Even one of Deutsche's key personnel said it was "not surprising."</p><p>The <a href="http://www.ft.com/cms/s/0/940adc00-f7e6-11e5-96db-fc683b5e52db.html#axzz44lp722Gz">Financial Times</a> reported that Deutsche fell from its position as a top three global investment bank this quarter despite retaining that ranking since before the financial crisis in 2007/2008.</p><p>It has now moved to fifth place, below Citigroup and Bank of America which both held joint third position and below Goldman Sachs in second place and JPMorgan in first place.</p><p>Coalition ranks global investment banks by total revenue taken from fees and trading and converts these into US dollars.<br /><br />"[The results] are not surprising," said <a href="http://www.ft.com/cms/s/0/940adc00-f7e6-11e5-96db-fc683b5e52db.html#axzz44lp722Gz">Ram Nayak, Deutsche Bank's head of fixed income, to the FT</a>.</p><p>"They reflect a well-flagged shift in our strategy that has seen us focus on delivering a better quality of service to a smaller number of clients over a more targeted range of products."</p><p>Deutsche Bank's struggles in the past year or so are well documented, and new CEO John Cryan is trying to turn the bank on its head in the pursuit of new success. Since taking the reins last year, <a href="http://uk.businessinsider.com/deutsche-banks-ceo-says-paying-big-bonuses-to-bankers-is-like-giving-candy-to-babies-2015-11">Cryan has criticised banking's bonus culture</a>, <a href="http://uk.businessinsider.com/deutsche-bank-is-changing-investment-banking-leadership-2015-10">shaken up the bank's board</a>, and is reportedly working 15-hour days to turn Deutsche around.</p><p>Meanwhile, Deutsche confirmed in October last year that it was cutting 9,000 jobs and leaving 10 countries in a bid to shore up costs.</p><p>However, <a href="http://uk.businessinsider.com/deutsche-bank-rates-business-2016-2">as Business Insider revealed last month</a>, one of Deutsche's key trading businesses - rates - is suffering amid the tough start to the year.</p><p>The rates-trading business focuses on the trading of government debt and interest-rate derivatives and it targeted ambitious revenue growth in 2016.</p><p>However, sources told Business Insider that while overall <a href="http://www.businessinsider.com/trading-conditions-improving-on-wall-street-2016-3">business has picked up over the past six weeks across Wall Street</a>, Deutsche Bank's rates revenues are still down compared with the same period last year.</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/how-billionaires-real-estate-trick-sell-their-penthouses-faster-for-more-money-2016-3">The real estate trick billionaires use to sell their penthouses faster and for more money</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="VycG0yMjE69omwf5-yxWoSA5EDyVrymY" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

Deutsche Bank just lost its prime position in a prominent investment banking league table

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span>REUTERS/Luke MacGregor</span></p><p class="caption">A man walks past Deutsche Bank offices in London December 5, 2013. </p></div><p></p></div></div>Deutsche Bank's rates trading business, which had targeted ambitious revenue growth in 2016, is suffering amid the tough start to the year.</p><p>The business, which focuses on the trading of government debt and interest rate derivatives, had an unusually quiet start to the year, according to people familiar with the matter.</p><p><a href="http://www.businessinsider.com/trading-conditions-improving-on-wall-street-2016-3">Business has picked up over the past six weeks across Wall Street</a>, but Deutsche Bank's rates revenues are still down on the same period last year, according to the people. </p><p>The drop is especially notable as Deutsche Bank had started the year with an aggressive revenue target for the business. </p><p><span>The rates business generated somewhere between 1.4 billion and 1.5 billion euros in revenues in 2015, according to people familiar with the matter. </span></p><p>The bank did not break this performance out in quarterly numbers, but it did cite year-on-year increases in revenue in that business line in the first, third and fourth quarter. The bank reported total trading revenues of 10.5 billion euros across fixed income and equities for 2015. </p><p>After the strong year, the bank budgeted for another year of increased revenues. </p><p>Deutsche Bank started the year targeting 2 billion euros in revenue from the rates business for the whole year, according to the people. A spokeswoman for the bank declined to comment on the business. </p><p><span>The first quarter of the year typically makes up a big chunk of trading revenues, so t</span>he combination of a weak first quarter and bullish growth plans mean the business faces a struggle to meet year-end targets. </p><p><span><div class="KonaFilter image-container display-table float_left"><div><div class="image on-image"><p class="source"><span>Thomson Reuters</span></p><p class="caption">Deutsche Bank Chief Executive Cryan attends a news conference in Frankfurt</p></div><p></p></div></div>The tough start to the year in rates adds to a long list of challenges for the German bank. </span></p><p><span><span>The bank announced a new lineup at the top of the </span><a href="http://www.businessinsider.com/deutsche-bank-has-named-ram-nayak-head-of-fixed-income-2015-10">markets business in November</a><span>. </span><span>Ram Nayak was appointed to lead a new debt-trading unit that combined rates, credit, foreign exchange, emerging-market debt, and structured-finance trading. </span><span>Sam Wisnia heads rates in Europe and the Americas.</span></span></p><p>It then <span>found itself the subject of speculation in February as investors fretted over its ability to pay the coupon on contingent bonds, and credit default swaps on the bank's debt widened dramatically.</span></p><p>This month it <a href="http://www.reuters.com/article/us-deutsche-bank-trading-idUSKCN0WD0V6">warned </a>that market volatility would hit results, though it also blamed slower dealmaking for a drop. </p><p>Chief executive John Cryan has said the bank may not be profitable in 2016. He added that markets revenues are<span> "obviously going to be down in the quarter because everyone else's are, but we're exiting lots of businesses too."</span></p><p><span>In a note Thursday, JPMorgan analyst Kian Abouhossein said Deutsche Bank was his top pick in the investment bank space, but that in the short term there is unlikely to be any good news for the bank. </span></p><p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span>Thomson Reuters</span></p><p class="caption">Swiss bank Credit Suisse Chief Executive Tidjane Thiam addresses a media briefing in Zurich</p></div><p></p></div></div>"We believe while Q1 trading has been difficult due to specific issues such as widening of CDS and concerns around AT1, we would not extrapolate potentially weak Q1 as impacting the FICC franchise - but warn there may be little positive news near-term," he said. </p><p><span>Deutsche Bank is not the only bank suffering.</span></p><p><span>Credit Suisse has said it will <a href="http://www.businessinsider.com/credit-suisse-thiam-didnt-know-about-bad-trades-2016-3">likely post a 40% to 45% drop in markets revenues. </a></span></p><p><span><a href="http://www.businessinsider.com/ted-pick-at-morgan-stanley-on-first-quarter-2016-2">Morgan Stanley</a><span>, </span><a href="http://www.businessinsider.com/pinto-jpmorgan-revenues-down-in-1q-2016-2">JPMorgan</a><span> and </span><a href="http://www.bloomberg.com/news/articles/2016-03-08/citigroup-says-markets-revenue-to-tumble-15-in-first-quarter">Citigroup</a><span> have all sounded the alarm over trading conditions in the first quarter ending March 31, with the latter two forecasting double digit declines in sales and trading revenue. </span><a href="http://www.businessinsider.com/credit-trading-difficulties-on-wall-street-2016-3">Corporate bond trading has been especially challenging.</a></span></p><p><span>Jefferies, which reports numbers for the quarter ending February, said that January and February were "extremely challenging" and that almost every asset class suffered significantly. </span></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/how-billionaires-real-estate-trick-sell-their-penthouses-faster-for-more-money-2016-3">The real estate trick billionaires use to sell their penthouses faster and for more money</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="VycG0yMjE69omwf5-yxWoSA5EDyVrymY" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

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