Germany denies Deutsche Bank rescue plans

The German government denied it was working on a rescue of Deutsche Bank as Germany’s biggest lender boosted its balance sheet by selling its British insurance business yesterday.

Deutsche is facing a $14bn (€12.5bn) fine from the US Department of Justice and concerns over its funding pushed its shares to a record low on Tuesday.

Weekly Die Zeit had reported that the German government and financial authorities were working on possible steps to enable Deutsche to sell assets to other lenders at prices that would ease the strain on the lender.