Deutsche Bank, the most important bank in Germany and which has been living a stormy siege on the Frankfurt Stock Exchange for several days because of dangerous and multimillion-dollar litigation it has to face in the United States, had a slight respite of relief this Friday. to an unexpected help from a Qatar investment fund, which let it know that it was willing to increase its participation in the bank, which to date owns 10% of the shares.
The fund, which is controlled by former Qatari Prime Minister Hamad bin Jassim al-Thani, according to German press and Reuters news reports, said he would not sell his package of shares and that he was willing, on the contrary , to increase its participation in the bank up to 25%, an offer that could bail out the institution, which must face a fine of up to 12,500 million euros required by the US authorities to resolve an offer to increase its participation in the bank it occurs at a critical moment for the institution, which has been living since the end of last month, perhaps its worst crisis in its history.
In less than three weeks, the Bank’s value on the stock market fell below the level of 15,000 million euros, 50% less than it was a year ago. The shares of the Deutsche are quoted in a range that varies between eleven and nine euros and the German economic press, is still considering the possibility that the bank requests the help of the German government to address their liquidity problems.
Although the German government denied the possibility of coming to the aid of the bank, several German media have let it be known that Berlin is exerting its influence and a little pressure in the American spheres to lower the amount of the fine. Nor has it ruled out the possibility that the government, at a critical moment for the bank, decides to intervene.
The unexpected help of Qatar was revealed by the magazine Der Spiegel, which points out in its print edition that goes on sale this Saturday, that the Fund is willing to increase its share package up to 25%, a gesture that may have importance crucial for the institution. Another German media, the Frankfurter Allgemeine Zeitung said that the bank’s chief executive, John Cryan, is in Washington, negotiating with “senior officials” of the Justice Department, an agreement to reduce the amount of the fine.