- Category: Economic
- Published Tuesday, February 9, 2016
- CTV News
FRANKFURT -- Deutsche Bank co-CEO John Cryan is reassuring employees and the markets that Germany's largest lender remains "rock-solid" even though its shares have taken a beating.
The bank's shares have suffered in the days since it reported a 6.8 billion euro ($7.5 billion) loss for last year. Losses reported by competitor Credit Suisse and problems in Italy's financial system have helped feed concerns about banking stocks.
Cryan wrote in a message on the bank's website Tuesday that if clients ask about how market gyrations are affecting the bank, "you can tell them that Deutsche Bank remains absolutely rock-solid, given our strong capital and risk position."
The bank's shares were down 5 per cent in afternoon trading in Europe and have fallen 23 per cent since its earnings announcement Jan. 28.