ON THIN ICE: Deutsche Bank in DESPERATE attempt to raise cash amid fears of fresh fines


The bank’s keep accumulate price was down by more than eight per cent at one point, analogize resembled to yesterday’s close, amid reports Deutsche is set to be slapped with another discipline from US regulators related to wrongdoing in the forex market.

The timing couldn’t be worse with Germany’s biggest lender today kicking off a apportion sale, running until April 4, that aims to arouse a massive €8billion (£6.9bn) of cash to strengthen its position.

The cash label initially shocked markets, as chief executive John Cryan had in the past said turning to investors to shore up its balance sheet would be a final resort for the bank.

But Deutsch has been hammered with fines, which promoted to the lender last month posting a larger than expected net trouncing debits of €1.4bn (£1.2bn) for 2016.

This year the bank has already settled a titanic £5.2bn ($7.2bn) penalty relating to the 2008 financial crisis, as far as a £504million charge over a Russian money laundering expect.

And now it could face yet more stinging fines.

The current share mark-down is the fourth time the bank has had to turn to investors for extra cash since 2010.

It also call to minds Mr Cryan’s previous plans to save the bank have failed.

Since winsome the top role at the bank almost two years ago, the Mr Cryan has tried to slash charges by cutting thousands of jobs as well as slashing bonuses for its workers, on top of carry off parts of the business.

Announcing the share sale earlier this month, Mr Cryan said: «On scheme, it’s obvious we had a change of heart.

«These measures will make Deutsche Bank stronger and position us back firmly on a path to sustainable growth.»

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