Share falls in double digits – Scholz calms down

Deutsche Bank shares

Investors parted on Friday in droves of shares in the largest German bank.

(Photo: dpa)

Frankfurt The forced merger of the struggling major Swiss bank Credit Suisse with UBS only calmed the financial markets for a short time. On Friday afternoon, Deutsche Bank shares fell by around nine percent, at times the minus was 15 percent. Shares in Commerzbank fell by more than eight percent at the top, but later recovered somewhat. The two stocks brought up the rear in the German stock index Dax.

The massive price slide also called Chancellor Olaf Scholz onto the scene, who demonstratively expressed his confidence in Deutsche Bank. “There is no reason to worry about anything,” Scholz said on Friday after the EU summit in Brussels. Deutsche Bank has fundamentally modernized and reorganized its business model and “is very profitable”. The banking system in Europe is very stable and resilient.

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