“Those who thought that the earthquake on the coast was losing strength were mistaken”summary Die Welt to explain this chaotic Friday for Deutsche Bank. The share price of the first German bank fell 14% during the day, forcing Prime Minister Olaf Scholz to intervene in support of the German banking institution.
“Deutsche Bank has completely modernized and updated its business model and is a very profitable bank. No need to worry”he said at the end of the European summit in Brussels.
Nothing to do with Credit Suisse?
“Not everyone seems to agree with that.” notes the German newspaper. The stock market storm that hit Silicon Valley Bank (SVB) two weeks ago and then culminated in the UBS tong bailout of Credit Suisse last weekend hit this Friday. “all European banking shares”. But Deutsche Bank “even more than others”.
However, the German newspaper laments, the context is not the same. “Four years ago, the Frankfurt institution was certainly in the same adversity as the Swiss bank.” But at the end of 2022, losses Credit
Source: Courrier International
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