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Deutsche Bank Recovers Losses Following Report Of $5.4 Billion Settlement

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Deutsche Bank Recovers Losses Following Report Of $5.4 Billion Settlement

Shares of Deutsche Bank AG (NYSE: DB) soared higher by more than 12 percent Friday morning following reports the bank is close to settling a fee with the U.S. Justice Department for substantially less than the originally reported $14 billion amount.

Agence France Tweeted that Deutsche Bank is near a $5.4 billion settlement with the U.S. agency over its involvement in mortgage bonds prior to the 2008 financial crisis.

Related Link: 4 Reasons Deutsche Bank Will Be Okay, According To CEO John Cryan

Bloomberg similarly reported that the German-based bank is nearing a $5.4 billion settlement, although Deutsche Bank declined to comment.

After falling more than 6percent and hitting an all-time low Thursday, the stock traded recently at $12.89, up 12.4 percent on the day.

Posted-In: Deutsche Bank Deutsche Bank Settlement FeeNews Rumors Legal Movers Best of Benzinga

 

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