Deutsche Bank plans to raise $11 billion in new capital, the Frankfurt-based megabank announced Sunday.
The funding round comes amid concerns about the firm's capital levels, the paper notes. As the FT's Alice Ross and Daniel Schäfer wrote a couple of weeks ago:
Deutsche is one of the least well capitalised banks among its peers and has faced pressure from investors in recent weeks to do more to plug its capital gap.
Executives have complained that the bank was unprepared for fresh regulations it will face this year. These include the European Banking Authority’s stress tests, which could see Deutsche ordered to raise more equity, as well as the possibility the European Central Bank will decide to impose tougher accounting standards on the lender.
Among the new stakeholders is the Qatari royal family, which kicked in $2.4 billion. The FT says the new round is at the high end of what analysts were expecting.
