Qatar royal family consider share in Deutsche bank

Deutsche Bank are in talks with the Qatari royal family to increase their share in the bank

Qatar royal family consider share in Deutsche bank

World Bulletin / News Desk

Qatari investors, including members of the royal family, are considering raising their stake in Deutsche Bank to 25 percent to shore up the embattled lender's capital position, German weekly Der Spiegel reported Friday.

Qatari ex-premier Sheikh Hamad bin Jassim bin Jabor al-Thani and his cousin, the former emir Hamad Bin Khalifa Al-Thani, currently own 10 percent of the German bank's shares, the report said.

Deutsche Bank has been in crisis mode since a US demand last month for a $14-billion fine for selling toxic mortgage bonds sparked fears over the lender's financial health, sending its share price plummeting to a record low.

If the Qatari group does indeed raise its stake in Deutsche to 25 percent, the investors would likely expect to have a say in management issues, Spiegel reported.

Without citing its sources, the magazine said the Qatari royals were "increasingly unhappy" with the current management under CEO John Cryan.

"If the Qataris were to raise their stake they would probably also push for changes to the management," it added.

The German finance ministry told Spiegel it would have no objections to a greater investment by the Qatari group.

Deutsche Bank's woes have eased somewhat after an AFP report last week said the German giant was in talks to reduce the fine to a more palatable $5.4 billion, although concerns remain over the bank's relatively weak capital foundations.

The bank has insisted it will not require a bailout.

 

Güncelleme Tarihi: 07 Ekim 2016, 21:09
YORUM EKLE