German finance minister Wolfgang Schaeuble isn’t worried about Deutsche Bank.
According to a report from Bloomberg, Schaeuble said simply, “I have no concerns about Deutsche Bank” when asked about the firm following a press conference in Paris.
Deutsche Bank, Germany’s largest bank, has made headlines in recent days after concerns over one of its junior bonds surfaced Monday and the firm said Tuesday it is “absolutely rock-solid.”
In a memo to employees on Tuesday, co-CEO John Cryan said:
You can tell [clients] that Deutsche Bank remains absolutely rock-solid, given our strong capital and risk position. On Monday, we took advantage of this strength to reassure the market of our capacity and commitment to pay coupons to investors who hold our Additional Tier 1 capital. This type of instrument has been the subject of recent market concern.
Deutsche Bank shares, which fell 7% in New York on Monday, were down about 5% shortly before the market open on Tuesday.
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