Deutsche Bank has been scrambling to reassure investors it has enough cash to pay a multibillion-dollar fine for alleged wrongdoing a decade ago as its shares crumbled to new lows and knocked sentiment across the banking sector.
Shares in Germany’s biggest bank lost more than 7.5% to €10.55 on Monday despite attempts by its senior executives to insist the bank would not need help from Angela Merkel’s government with the potential fine for mis-selling mortgage bonds.
Deutsche, run by Briton John Cryan, had taken a pounding on markets even before the threat earlier this month of a $14bn (£11bn) demand from the US Department of Justice for mis-selling of the bonds between 2005 and 2007.
Read the Full Article: Source – The Guardian
Time For Truth: (The Guardian) – Deutsche Bank shares fall to lowest level since mid-1980s