European leaders on Friday were keen to stress that the region’s banking sector was stable and sound following Deutsche Bank’s sudden slide as markets opened for trade.
German Chancellor Olaf Scholz told reporters at an EU summit that Deutsche Bank is a profitable business with no reasons for concern.
The German lender “has modernized, organized the way it works. It is a very profitable bank and there is no reason to be concerned,” he said, according to a translation.
Source : European leaders confront banking crisis while market turmoil looms over Brussels summit