Sep
26
Deutsche Bank Slumps as Investors Question Lender’s Health
By-
Bank says it’s “determined to meet challenges on its own”
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Focus reports that German government has ruled out state aid
Deutsche Bank AG shares dropped to a record low and its riskiest bonds declined after a media report said the German government wouldn’t step in to back the lender, fueling investor concerns about its weakened finances.
The shares slumped 6 percent to 10.73 euros at 1:55 p.m. in Frankfurt, bringing losses to about 52 percent this year. The lender’s 1.75 billion euros ($2 billion) of 6 percent additional Tier 1 bonds, the first notes to take losses in a crisis, fell about 2 cents on the euro to 73 cents, near a seven-month low, according to data compiled by Bloomberg…
Deutsche Bank Slumps as Investors Question Lender’s Health
