Deutsche Bank share price up as merger and bailout rumours shot down

Shares in Deutsche Bank are trading up today after the German banking giant’s chairman silenced murmurs of mergers and bailouts. The share price for the country’s biggest bank had a turbulent 2016, particularly after it was revealed in September that the US Department of Justice was considering slapping the lender with a fine of as much as $14bn (£11.4bn) for mis-selling mortgage-backed securities. The bank settled for a comparatively small $7.2bn last month. Read more: Trump’s unhappy fate: To oversee a financial crisis far worse than the lastShares in Deutsche Bank are up 1.9 per cent at €17.57 at time of writing, as the European markets carried on trading while the UK enjoyed a bank holiday break. [charts-share-price id=”731″]However, investors had another reason to be cheerful today, after the latest manufacturing Purchasing Managers’ Index showed the sector in Germany was performing particularly strongly. Shares in the banking giant took a nasty tumble late last year when it was reported German Chancellor Angela Merkel may be unwilling to extend a bailout to the struggling lender, even given the size of the fine it was facing.  There have already been some predictions on what Deutsche Bank will do to pay the fine, with speculation having already surfaced the bank will be slashing bonuses. The lender has also already undergone considerable restructuring efforts, notably its Strategy 2020 turnaround plan, which was initially announced in October 2015. Read more: Cartels of banks fined by Swiss watchdog for rate riggingBut, chairman Paul Achleitner has ruled out merging with another European bank and receiving state aid as being among Deutsche’s options.”The management board in principle looks at everything that could help the business…At the moment, however, enthusiasm for a pan-European merger is muted as we have other priorities,” Achleitner told Frankfurter Allgemeine Sonntagszeitung over the weekend.And, on the possibility of a state bailout, Achleitner remarked: “No one in Germany needs to worry about rescuing banks.” Hayley Kirton whatsapp Share Deutsche Bank share price up as merger and bailout rumours shot down Monday 2 January 2017 1:28 pm whatsapp Read more: Why the ECB could be in for a tougher time following the Trump victoryThis is not the first time in recent history the bank has pushed back on suggestions a merger could be in the pipeline. Last August, it was rumoured Deutsche Bank could be merging with fellow German lender Commerzbank, but this was quickly laid to rest. Meanwhile, a number of key industry voices, including those from the European Central Bank, have warned the continent currently has far too many lenders and have called for consolidation across the banking industry. Deutsche Bank is due to announce its preliminary results for 2016 on 2 February. For its 2015 full year results, the lender revealed it had plunged €6.8bn into the red, its first full year loss since 2008.  Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoOne-N-Done | 7-Minute Workout7 Minutes a Day To a Flat Stomach By Using This 1 Easy ExerciseOne-N-Done | 7-Minute WorkoutUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoMedical MattersThis Picture Shows Who Prince Harry’s Father Really IsMedical MattersUndomoneycougar.comDiana’s Butler Reveals Why Harry Really Married Meghanmoneycougar.comUndoZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldUndoAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorUndoGive It LoveThese Twins Were Named “Most Beautiful In The World,” Wait Until You See Them TodayGive It LoveUndoHouse CoastPregnant Beggar Was Asking for Help, But Then One Woman Followed HerHouse CoastUndo

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