According to Scholz, Deutsche Bank has “extensively modernized its investment model” and is a bank that does not emit any reason for concern
“THE Deutsche Bank it is a very profitable bank and there is no reason to worry about its future,” said the German chancellor, Olaf Solz, a few hours after the “plunge” recorded in Deutsche Bank’s stock.
According to Scholz, Deutsche Bank has “extensively modernized its investment model” and is a bank that does not emit any reason for concern.
German giant Deutsche Bank fell for a third day, plunging more than 11% after a jump in the cost of insuring its bonds against the risk of default.
Its shares have lost a fifth of their value since the start of the month, and its CDS (premiums against the risk of default) posted their biggest daily increase on record yesterday, according to data from Refinitiv.
At the same time, shares in international markets were under pressure while the shift of investors to so-called safe havens offered support to government bonds.
Source :Skai
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