Deutsche Bank sought to convince investors that it did not need a government bailout and had no plans for a capital increase on Monday morning, even as its shares fell to their lowest level in more than 20 years.
Shares in Germany’s biggest bank sank by as much as 6.9 per cent to €10.63, the lowest since the lender began trading on the Xetra exchange in 1992, although it traded below that level in the early 1980s. The stock has fallen more than 50 per cent so far this year.
The sell-off spread to other European banks, with all lenders on the Euro Stoxx bank index in the red. Shares in Barclays slipped 2.7 per cent, while Santander lost 3.1 per cent. The index itself was down 1.8 per cent.
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