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Deutsche Bank chief dismisses takeover speculation

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The Chief Executive of Deutsche bank told a weekly paper of Germany that the bank is not at a risk of takeover.

This was after the share prices of the bank decreased to a record level on Friday this week. The decline in the share prices was due to the money laundering allegations which were accompanied by a two day raid in the bank.

In September the bank had dismissed any possibility of tie up with the UBS of Switzerland or Commerzbank of the Germany. Despite the dismissal, there had been speculations that a merger might be possible.

Source: Straitstimes

Bild am Sonntag was told by Christian Sewing that he does not any indication of that and that the bank is now on track for making their first profit for three years and that it is only a matter of time when this progress by the bank is reflected in the increase in the share prices of the bank.

The raid in the bank was regarding the investigation which was linked to the Panama Papers leak of the official documents that were related to the offshore finance.

Sewing stated that the offices of all the board members were searched by the police in the two day raid. He further added that it’s okay and that he does not have a problem with that and that he only wants the matter to be cleared up soon.

Source; Wirdesign

Sewing also told the newspapers that the matter is about two employees who had helped in the working around of everything regarding the issue of the Panama Papers at that time and that in his perception until the deed has been proven, innocence is implied.

Sewing was asked by the journalist that if he had made any mistakes or  not to which he replied stating that he is at peace with himself and that he is doing his job as well as he can.

Source: Reuters, CNBC

Ketakee Srivastava
I am an amateur content writer, who is currently pursuing a Masters in Finance from ICFAI Business School. In this highly volatile Business Market, I find no better way to keep myself updated than to write about it and reflect my own thoughts as words.

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