Deutsche Bank AG (DB)

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Germany HELL: Doom for Deutsche Bank as largest lender Qatar 'pulls plug on future equity'

SINKING Deutsche Bank has been dealt a hammer blow today after its biggest backer pulled the plug on future equity, it has been claimed.

By SIOBHAN MCFADYEN
PUBLISHED: 16:40, Fri, Oct 14, 2016 | UPDATED: 19:43, Fri, Oct 14, 2016

According to sources the bank is now facing an crisis of gargantuan proportions after the Qatari royal family, who were reported to be involved in bond deals just last week, expressed concern over their long-term strategy.

Analysts say this could be the final nail in the coffin for the bank which this week was accused of using stealth methods to woo investors.

The bank is not commenting on the claims that their lifeline has been pulled as their credit instruments sit at almost records lows.

According to reports the bank's Chief Executive John Cryan and Deutsche Bank’s chairman Paul Achleitner had been hoping to keep Qatar on side in the hope their continued support would help stablise the company.

But insiders say Sheik Hamad bin Jassim al-Thani has now bowed out of future deals ahead of settlements with the U.S. Justice Department.

Qatar sunk £1.57bn into Deutsche Bank two years ago as part of an €7.2bn (£6.5bn) capital increase, at the time paying €29.20 (£26.36) a share.

Now with the share price having plummeted 45 per cent this year, they are said to have become concerned after losing almost €1bn.

Yesterday the bank announced a jobs freeze leaving serious concerns over its future.

http://www.express.co.uk/news/world/721289/Doom-for-Deutsche-Bank-as-largest-lender-Qatar-pulls-plug-on-future-equity