Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Russian Ministry of Defense: 37 Ukrainian drones destroyed in 4 hours over regions of Russia and the Black Sea.
Sheikh Qassem: Our supporters make up more than half of Lebanon's population, and all of these people are united under the banner of protecting Lebanon, its Resistance, its people, and its integrity.
Sheikh Qassem: There will be no phased handing in of our arms. [The Israelis] must first enact the agreement before we start talking about a defensive strategy.
Sheikh Qassem: Be brave in the face of foreign pressures, and we will be by your side in this stance.
Sheikh Qassem: Stripping us of our arms is like stripping us of our very soul, and this will prompt us to show them our might.
Sheikh Qassem: We will not abandon our arms, for they gave us dignity; we will not abandon our arms, for they protect us against our enemy.
Sheikh Qassem: The US efforts we are seeing are aimed at sabotaging Lebanon and constitute a call for sedition.
Sheikh Qassem: If you truly want to establish sovereignty and work for Lebanon’s interests, then stop the aggression.
Sheikh Qassem: The United States, which is meddling in Lebanon, is not trustworthy but rather poses a danger to it.
Sheikh Qassem: The United States is preventing the weapons that protect the homeland.

Shares of German largest lender plunge over distrust in EU bank sector

  • By Al Mayadeen English
  • Source: Agencies
  • 24 Mar 2023 21:04
  • 2 Shares
3 Min Read

Stocks of Germany's Deutsche and Commerzbank fell sharply on Friday over investors' fear over the health of the European banking sector.

  • x
  • Shares of German largest lender plunge over distrust in EU bank sector
    A statue is seen next to the logo of Germany's Deutsche Bank in Frankfurt, Germany, January 26, 2016 (Reuters)

Deutsche Bank shares plummeted over 14% on early trade on Friday as borrowing costs surged over increased financial risks following the collapse of major banks in the past few weeks, spreading heightened fear over the future of the banking sector, AFP reported.

The stock value of Germany's biggest lender rebounded almost 6 percent on the Frankfurt Stock Exchange, closing at 8.54 euros.

The cost of the bank's debt insurance against default risk fell as investors' trust in the financial sector dropped. The collapse of US' SVB and two other banks, in addition to the chaotic takeover of Credit Suisse by UBS - enforced by the Swiss government - left markets in turmoil.

Read more: SVB bankruptcy cause of 'deep crisis' in tech industry: Netanyahu

Commerzbank, considered to be a close rival to Deutsche bank, also witnessed an 8.5 percent drop in market value in early trade - only recovering close to 3 percent of stock value closing off at 8.88 euros.

The impact of Duetche's falling stocks spread to the UK and France, with BNP Paribas and Societe Generale witnessing tumbling stocks during day trade. In attempts to ensure market investors regarding the banking sector, German Chancellor Olaf Scholz said that the lender "modernized and organized the way it works. It's a very profitable bank. There is no reason to be concerned," adding that the EU's banking sector was "stable" and is under strict regulations and rules.

Scholz's remarks came following an EU leader's summit in Brussels on Friday.

Related News

Major global bank says potential dollar crisis looming

Russian court orders seizure of $260m Deutsche Bank assets

In a failing attempt to regain investors' trust in the bank, Deutsche Bank revealed on Friday that it will cash out $1.5 billion in tier 2 bonds before maturity.

Read more: US banking crisis to worsen if structural problem not addressed

This is not Deutsche's first crisis, as the bank was struck with a financial crisis after it attempted to compete with US banking giants pre-2008 crash, which left the bank vulnerable due to the spreading of resources to a market where it failed to compete.

However, the bank, which recorded its highest annual profit last year in 16 years, regained its stable position following deep organizational restructuring, which included slashing thousands of its workforce.

Despite the high impact of rate hikes on the banking sector, further rate rises were announced earlier - leaving the banking sector more vulnerable to money outflow.

Read more: Swiss central bank hikes interest rate despite banking turmoil

Contagion fear

Earlier on Friday, shares in European banks sank on Monday despite a buyout of Credit Suisse by Swiss UBS aimed at averting a global banking crisis.

The Stoxx Europe 600 Banks index for the sector was down more than 5% in morning trades, with declines at French behemoths BNP Paribas and Societe Generale of around 7% and Standard Chartered of about 5%.

  • Deutsche Bank
  • Germany
  • banking crisis
  • SVB
  • European Union

Most Read

Tom Artiom Alexandrovich, executive director of the defense division of the Israeli National Cyber Directorate, undated (Social media)

Israeli-born US prosecutor drops Israeli officer child sex crime

  • Politics
  • 19 Aug 2025
Almost instantly after the Helsinki Accords were signed, organisations sprouted to document purported violations, whose findings were fed to overseas embassies for international amplification. (Al Mayadeen English; Illustrated by Zeinab el-Hajj)

How ‘Human Rights’ became a Western weapon

  • Opinion
  • 23 Aug 2025
Israeli soldiers stand on the top of armoured vehicles parked on an area near the Israeli-Gaza border, as seen from southern Israel, Wednesday, Aug. 20, 2025 (AP)

Palestinian fighters target Israeli soldiers, vehicles in Gaza

  • Politics
  • 21 Aug 2025
Launch of a ballistic missile from Yemen toward the occupied Palestinian territories. (YAF military media)

Yemeni Forces announce firing hypersonic missile at Al-Lydd Airport

  • Politics
  • 22 Aug 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
Israeli Prime Minister Benjamin Netanyahu speaks during a press conference at the Prime minister's office in al-Quds, Occupied Palestine, Sunday, Aug. 10, 2025 (AP)
Politics

Netanyahu deliberately derailing truce with Gaza occupation: Hamas

Irish President Michael Higgins arrives to deliver his speech during a 42nd World Food Day celebration at FAO headquarters in Rome, on Oct. 16, 2023. (AP Photo/Alessandra Tarantino)
Politics

Irish president renews call for UN military intervention in Gaza

US Ambassador to Turkey and Special Envoy to Syria Tom Barrack speaks during an interview with The Associated Press at the US Embassy in Aukar, northern suburb of Beirut, Lebanon, Monday, July 21, 2025 (AP)
Politics

US envoy, Netanyahu discuss restraining attacks on Lebanon, withdrawal

Smoke billows following Israeli airstrikes in multiple areas in Sanaa, Yemen, Sunday, Aug. 24, 2025 (AP)
Politics

Ansar Allah vow sustained Gaza support despite Israeli strikes

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS