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Berlin aid for Deutsche Bank ‘inconceivable’

Friday, October 14, 2016 11:23
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(Before It's News)

Germany’s government has ruled out taking a stake in Deutsche Bank (NYSE:DB) if the troubled firm issues new shares to prop up its finances, according to the Wall Street Journal.

The report said that aides to Chancellor Angela Merkel remarked state help for Deutsche was “inconceivable”.

The bank is under pressure because of a $14bn fine imposed by the US Department of Justice, a figure that vastly exceeds Deutsche’s ability to pay it and which Germany’s biggest lender is locked into trying to re-negotiate down.

Deutsche Bank ADRs were up 0.9% at $13.48 in New York on Friday.

Story by ProactiveInvestors

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