Shares of Deutsche Bank fell after reports that the Federal reserve system of the United States quietly decided the Bank for us was the “problem” a year ago.
The Federal reserve found fighting of the creditor business in “troubled condition” in the past year, according to the “wall Street Journal” status, which forced him to seek the approval of the fed for employment and dismissal of the heads.
The downgrade added headache of Deutsche Bank as it looks to cut thousands of jobs in attempt to return to profit. Its shares fell more than 7pc on Thursday.
Representatives of the Federal reserve and Deutsche Bank declined to comment on the assessment.
The representative of Deutsche Bank said: “We previously indicated that our regulators identified various areas for improvement related to our control environment and infrastructure.
“We are fully focused on addressing identified shortcomings in our activities with us.”
The Bank has posted three consecutive years of losses leading up to the ousting of its previous boss John Cryan in April.
The report came just a day after Christian Sewing chief Executive said the German Bank was committed in the United States, despite rumors of major cutbacks.
It was a difficult period for the lender, who posted three consecutive years of losses and announced last week thousands of job cuts at its annual General meeting.