Qatar royal family consider share in Deutsche bank

  • by Dan Gutierrez
  • in Markets
  • — Oct 9, 2016
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Qatar's royal family is considering increasing its stake in Deutsche Bank to as much as 25 per cent, according to people with knowledge of the matter.

Schaeuble has refused to comment on Deutsche Bank but other European officials attending meetings of the International Monetary Fund and World Bank in Washington this week have said the bank is solvent, while acknowledging broader problems in Europe's banking sector.

Deutsche has been engulfed in crisis since news emerged last month of a USA demand for a $14 billion settlement over the sale of toxic mortgage bonds. Now the Handelsblatt business daily reports that they are ready to commit €5 billion should the bank require fresh capital to cover its legal bills.

A Deutsche Bank spokeswoman declined to comment to Bild about the outcome of Cryan's Friday discussion or about clawing back former executives' compensation.

Election in Georgia to test stability amid slump
On Sunday, unknown assailants fired shots during a campaign rally held by MP candidate Irakli Okruashvili in the central city of Gori, injuring two men.

Deutsche Bank's proposed fine has emerged as another bone of contention between the United States and the European Union after the EU said earlier this year that US tech giant Apple Inc owed $14 billion in taxes. Deutsche Bank ranked 7th worldwide in global equity capital markets according to Thomson Reuters data. The bank has been under pressure lately from reports it could pay as much as a $14 billion fine to the Justice Department, squeezing its balance sheet. No final decisions have been made and the bank could decide against a capital increase, they said.

Deutsche is in the midst of a deep overhaul that includes slashing jobs from a workforce of around 100,000, revamping information technology and shrinking non-core assets.

Deutsche Bank CEO John Cryan told Germany's Bild newspaper late last month that he doesn't plan to raise capital. That is about the maximum amount in discounted shares Deutsche Bank can sell without needing shareholder approval, the people said.

Most banks will be called in just days before any deal, which will likely be structured as a fully underwritten rights issue with banks guaranteeing to take on shares to sell on to a mix of investment funds, pension funds and hedge funds.

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