Deutsche Bank shares extended losses on Tuesday on investor doubts that its chie...
LONDON/FRANKFURT - Deutsche Bank DKBGn.DE shares extended losses on Tuesday on investor doubts that its chief executive can revive the lender by shrinking the investment bank and returning to its roots as banker to corporate Germany.
By 1312 GMT, shares were down 3.8% on the day, after sliding as much as 6.5% earlier. The bank’s bonds also fell. Ratings agency Fitch, which last month downgraded the bank to “BBB” status, the lowest investment-grade, echoed this. The bank began cutting jobs in its trading business on Monday, with staff laid off in offices stretching from Sydney to New York.
FILE PHOTO: A plane flies above the headquarters of Germany's Deutsche Bank in Frankfurt, Germany, July 8, 2019. REUTERS/Kai Pfaffenbach
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