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Deutsche Bank Shares Tumble

Deutsche Bank Shares TumbleDeutsche Bank Shares Tumble

Deutsche Bank stocks have dropped to levels last seen during the 2008 financial crisis as investors are fleeing Germany’s biggest lender following its announcement of a multi-billion euro loss for 2015, DW reported. Deutsche Bank’s pain deepened on Thursday as shares tumbled more than 9% in midday trading, following its announcement of a net loss of €6.7 billion ($7.3 billion) for 2015. The bank blamed writedowns, litigation charges and restructuring costs for the plunge, fuelling concerns Germany’s biggest lender might now need to raise fresh capital to strengthen its finances.

Financialtribune.com