Investors at Deutsche Bank AG added to their list of troubles along the German bank and the money laundering scandal involving Deutsche Bank and Danske Bank directly.
Management shakes, weak reports and a political crisis in Italy and Turkey led to the collapse of German bank shares and the formation of several bottoms this year. Now worries about the bank's involvement in Europe's biggest money laundering scandal add up to stock prices after an anonymous source released the initial information.
"In the current situation, even the slightest negative news is enough to make people leave the risky assets, especially after news on sensitive topics such as money laundering." - says Andreas Meyer, Portfolio Manager at Aramea Asset Management.
Mother Howard Wilkinson, who stunned Danish legislators on Monday, said Deutsche Bank had offered him money not to blow up information that referred to $ 150 billion in cash management from Howard did not say. The creditor in question was then informed on the case and working at the Deutsche Bank State Department.
An internal investigation by the bank found a similar figure of cash flows that have been in motion for nine years. Deutsche Bank has moved around $ 450 to $ 500 billion daily as an intermediary bank. The German bank has processed payments to Danske Bank in Estonia, but disrupts communication and work in 2015, after the first signs of suspicious activity.
On Tuesday, the shares of the banks in Europe were dragged over by the news and were the slightest sector of the day, driven by the fall of CYBG Plc and Julius Baer Group. Shares of Deutsche Bank and DWS Group fell 2.3 percent.
Source: Bloomberg Finance L.P.
Graphs: Used with permission of Bloomberg Finance L.P.
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