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5/29, 9:29 AM (Source: TeleTrader)
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Deutsche Bank at all-time low amid capital shortage

Deutsche Bank AG plunged 2.62% to €6.14 per share at 9:26 am CET on Wednesday. It was the sixth trading session out of the last eight in Frankfurt that Germany's flagship lender set a record weak level. Management led by chief executive Christian Sewing yesterday are said to be reviewing the possibility of a capital increase, fueling concern as earlier they denied such plans, while fears of a looming recession in the Eurozone and the United States didn't help, either.

The CEO vowed last week to slash expenses and start an overhaul, but said it would take some time to come up with a strategy. Some bets are on a partial divestment of asset management subsidiary DWS. Investment banking head and copresident Garth Ritchie and regulatory chief Sylvie Matherat are under pressure, shown at the last shareholder meeting, with the bank reportedly bracing for their potential departures.

Deutsche Bank lost 11.87% so far this year, also battered by the fallout from money laundering scandals and failed merger attempts, compared to a gain of 12.64% for the benchmark DAX stock index.

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