Deutsche Bank's shares fall 3% after failed talks
The shares of Germany's Deutsche Bank fell over 3% on Monday after reports that its CEO failed to reach a deal with the US Department of Justice.
The shares of Germany's Deutsche Bank fell over 3% on Monday after reports that its CEO failed to reach a deal with the US Department of Justice.
A Reuters report said that CEO John Cyran failed to reach a deal with the DoJ over the weekend over the misselling of mortgage-backed securities.
According to the report, Cyran's presence at the annual autumn International Monetary Fund and World Bank meeting in Washington, had raised hopes that the chief exec may be able to negotiate a better deal with DoJ.
Deutsche Bank has been accused of misselling mortgage-backed securities, attracting a fine of $14 billion levied by the DoJ. This was way more than the bank had set aside for the issue.
Shares of Deutsche Bank fell 3.4% on the German stock exchange.