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European Lenders

All articles tagged with #european lenders

finance2 years ago•1 min saved

Deutsche Bank's Troubles Send Ripples Through Global Markets

US stock markets fell on Friday morning due to concerns about the health of the banking sector in Europe, with Deutsche Bank's shares falling more than 7%. Despite regulators' assurances, broader European markets also suffered, with the STOXX Europe 600 down around 1.69%. German Chancellor Olaf Scholz brushed aside fears of broader turmoil, saying there is "no reason to be concerned." Deutsche Bank has faced scandals in recent years, including allegations of tax fraud and money laundering.

via The Washington Post|

#banking-sector #deutsche-bank #european-lenders

finance2 years ago•3 min saved

Credit Suisse's Future Uncertain as Saudi Backer Withdraws Support

Credit Suisse's shares hit a new all-time low after its largest investor, Saudi National Bank, said it could not provide any further financial assistance due to regulatory restrictions. The bank's CEO defended its liquidity basis, saying it is "very, very strong," and that it fulfills and overshoots all regulatory requirements. The share price rout renewed a broader sell-off among European lenders, which were already facing significant market turmoil. Investors are also assessing the impact of the bank's disclosure of "material weaknesses" in its financial reporting processes for 2022 and 2021.

via CNBC|

#credit-suisse #european-lenders #finance