Allianz CIO Utermann: Deutsche Bank Is 'Too Important,' Says State Support Will Be Available

Shares of the German bank fell to a new-all time low early Monday morning following the report that also suggested the bank won't be able to count on the German government for financial support.

Related Link: Deutsche Bank Hits A New Low

An official with the German government was quoted as saying there are "no grounds" for speculating over state funding. Prior reports also suggested the government has already ruled out any state assistance for Deutsche Bank.

However, these concerns may be overblown, at least according to Allianz Global Investors' Chief Investment Officer Andreas Utermann. Speaking to Bloomberg, he suggested the bank is "too important for the German economy" and the government will ultimately step in if it is in trouble.

"I don't buy at all what's coming out of Germany," Utermann said.

Bloomberg Gadfly's Lionel Laurent also weighed on the issue. He suggested that the issue at hand is more political, as Germany Chancellor Angela Merkel may be distancing herself during an election year.

"This is a very political issue and I think, sadly, it's going to be politics and not share prices that dictates the market's view of Deutsche," he said.

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