142
German Chancellor Olaf Scholz said there was no need to worry about Deutsche Bank as he attempted to reassure markets after the German bank’s shares plunged to their lowest since October 2022 amid a negative backdrop for the sector as a whole.
“Deutsche Bank has radically modernized and reorganized its business model and is a very profitable bank,” Scholz said at a press conference in Brussels, answering questions about the institution’s situation.
“There’s no need to worry about anything,” he added. The German leader, who was finance minister under his predecessor Angela Merkel, spoke following talks with his European Union counterparts and ECB president Christine Lagarde in the Belgian capital.