Deutsche Bank

Deutsche Bank (XETRA: DBKGn.DB / NYSE: DB) today announced its decision to redeem its US $1,500,000,000 Fixed to Fixed Reset Rate Subordinated Tier 2 Notes ...

These statements are based on plans, estimates and projections as they are currently available to the management of Deutsche Bank. Forward-looking statements therefore speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events. Deutsche Bank is the leading bank in Germany with strong European roots and a global network.

Worries over the financial strength of the sector persist, with Deutsche Bank shares down 14% at one point.

In Europe, other banks to see hefty share falls included Germany's Commerzbank and France's Societe Generale, both down about 6%. But mixed messages from US authorities as to whether they were prepared to guarantee all bank deposits have led to confusion, and hopes that calm had been restored to the sector appear to be have been premature. Deutsche shares recovered some ground in afternoon trading. Bank of England governor Andrew Bailey also told the BBC that the UK banking system was "safe and sound". Higher interest rates have also raised the possibility of recession, Mr Mould said, and if that happens, "banks will generally find it pretty hard going". Investors have already been spooked by the collapse of two US banks and the rushed takeover of Swiss giant Credit Suisse by its rival UBS.

FTSE 100 also falls amid fears another bank could slip into trouble after UBS takeover of Credit Suisse.

It’s does the market have confidence in our liquidity?” “I can’t see it – yet,” they said, adding that the “worry of contagion may become contagion itself”. They helped to drag the FTSE 100 down by 1.6%. If this spikes upward it can be an indication that investors believe that the entity behind the CDS is more likely to default on its debts. Shares in the German bank fell as much as 14% before recovering some ground to end Friday down 8.6%. Europe’s Stoxx 600 banks index fell 4%, and the UK’s banking index fell more than 3%.

There is a renewed rush away from banking shares across Europe as the market's attention turns towards Germany's largest lender.

But she added the European Central Bank had made clear it was standing by to boost liquidity if needed, and noted that the Bank of England was also firm in its belief there is still no systemic risk. The government and the Bank of England have previously moved to reassure investors that the UK banking system is at no risk as the financial strength of lenders is very high compared to pre-financial crisis levels and their European peers. Wider economy stocks - such as mining and energy shares - also fell on fears the crisis of confidence in the banking sector would curtail the availability of credit and therefore economic growth. Markets have been jittery for weeks in the wake of the failure of Deutsche Bank employs 7,000 staff in the City of London where the FTSE 100 was 1.26% lower by the end of the day. Germany's largest bank has become the focus in a new wave of selling across banking and wider financial stocks, less than a week after the forced takeover of Credit Suisse.

The FTSE 100 moved 1.26%, or 94.15 points, lower to finish at 7405.45.

The price of oil lost ground as a result of wider market weakness and resultant uncertainty over demand. The hospitality giant, which runs 843 pubs in the UK and Ireland, reported a 5% increase in sales over the six months to January 29 compared with the same period in 2019, and up 13% compared with the previous year. The pound was down 0.54% to 1.222 US dollars, and rose by 0.19% to 1.136 euros at market close in London. In the US, the In London, banking firms Standard Chartered and Barclays were among the weakest performers as a result. [anks](/topic/banks) suffered another poor session on Friday as [Deutsche Bank](/topic/deutsche-bank) became the latest financial firm to start putting traders on edge.

German lender's shares were hit by general loss of confidence, not by any specific failings.

None of which, though, explains why – other than its recently chequered record – Deutsche found itself in the spotlight. [At its worst point, Deutsche was down 14%](https://www.theguardian.com/business/2023/mar/24/european-bank-shares-fall-as-market-jitters-return-deutsche-bank-ubs-ftse-100). The ECB, the US Federal Reserve and the Bank of England raised interest rates this week. At Deutsche, the only minor news from Frankfurt was a decision to buy back a small slice of its debt, which regulators would not have permitted if they were worried about liquidity. Nor, as far as we know, is the European Central Bank in a flap about Deutsche in the way that Swiss authorities were when they advanced a 50bn Swiss franc borrowing facility to Credit Suisse in the days before There is no evidence of a flight of depositors at Deutsche, the factor that really sealed Credit Suisse’s fate.

Shares of Germany's largest bank Deutsche Bank slid on Friday as investors fretted that regulators and central banks have yet to contain the worst shock to ...

The index of top European bank shares [(.SX7P)](https://www.reuters.com/quote/.SX7P) ended down 3.8%. A spokesperson for UniCredit declined to comment. [(JPM.N)](https://www.reuters.com/companies/JPM.N) ended down 1.5%, while Bank of America [(BAC.N)](https://www.reuters.com/companies/BAC.N) climbed 0.6%. "It takes time. The meeting was chaired by U.S. regulators - agreed at a Friday meeting that the U.S. Treasury said the Financial Stability Oversight Council - which comprises the heads of various U.S. In the latest effort to reassure investors, the U.S. [(CRDI.MI)](https://www.reuters.com/companies/CRDI.MI) is leaning towards [repaying a perpetual bond](/markets/rates-bonds/unicredit-leaning-towards-repaying-at1-bond-june-source-2023-03-24/) at the earliest opportunity in June, a source close to the matter told Reuters. [(.SPLRCBNKS)](https://www.reuters.com/quote/.SPLRCBNKS) recovered 1.75%, with PacWest Bancorp rallying more than 3% and First Republic Bank [(FRC.N)](https://www.reuters.com/companies/FRC.N) falling 1.4%. [(DBKGn.DE)](https://www.reuters.com/companies/DBKGn.DE) was thrust into the investor spotlight and [slumped](/markets/deutsche-bank-shares-whipsaw-after-cds-blow-out-2023-03-24/) 8.5% alongside a sharp jump in the cost of [insuring](/markets/deutsche-bank-shares-whipsaw-after-cds-blow-out-2023-03-24/) its bonds against the risk of default. [(SBNY.O)](https://www.reuters.com/companies/SBNY.O) earlier this month.

Olaf Scholz has been forced to defend the financial health of Deutsche Bank after renewed fears of contagion in Europe's banking system sparked a sell-off ...

The investigation is a fresh headache for bosses at UBS as they absorb Credit Suisse. Both Credit Suisse and UBS declined to comment on the report. Credit Suisse has long had a reputation for providing banking services to Russia’s elite. It closed down more than 8pc in Frankfurt on Friday, having pared some of its earlier losses. The fall on Friday means the stock has lost more than a quarter of its value in the last month. Bond traders are now scrapping bets that the Federal Reserve will raise interest rates again in May.

Tumbling stocks dragged down other major banks across Europe, fuelling fears about a banking sector crisis.

Deutsche Bank said on Friday that it would redeem $1.5bn in tier 2 bonds early. Efforts to strengthen banking regulation in recent years “puts us all in a position to say that European banking supervision and the financial system are robust and stable and that we have resilient capitalisation of European banks”, Scholz said. Last year, it booked its highest annual profit since 2007. The bank was hit by a string of problems linked to its attempts before the 2008 global financial crisis to compete with Wall Street investment banking giants. Speaking in Brussels after a summit of EU leaders, he also said the European banking system was “stable” with strict rules and regulations. Shares in Deutsche Bank have fallen sharply, dragging down other major European banks and reigniting fears about a widening banking sector crisis.

How serious are the difficulties facing the German lender? | Finance & economics.

Yet the main reason for the sell-off is not a dreaded skeleton in Deutsche Bank’s closet. The market for Deutsche Bank’s credit-default swaps is illiquid, meaning a few trades can move prices fast. Deutsche Bank’s net profits of €5.7bn ($6.1bn) in 2022 were double those of the year before. And at1s count for a higher share of Deutsche Bank’s risk-weighted assets than at other banks. Deutsche Bank may have a large book of derivatives, which are dangerous instruments in volatile markets, but these are traded openly and often enough to make it unlikely they are severely mispriced. By contrast, after a prolonged and painful restructuring, Deutsche Bank is profitable.