facebook
twitter
search
search

Deutsche Bank: Global markets stabilizing

Sept. 4, 2007 at 9:49 AM

FRANKFURT, Germany, Sept. 4 (UPI) -- The chief executive officer of Germany's Deutsche Bank AG said Tuesday he saw signs global financial markets were stabilizing.

"I am optimistic about the environment globally for financial institutions,'' Josef Ackermann said in a statement, without offering details.

He said he believed the global economic system, supported by regulators and central banks, would contain the U.S. subprime-loan crisis, which Germany's largest bank described last month as creating "very challenging" market conditions as the crisis spread.

"The turbulent market conditions during the month of August inevitably affected Deutsche Bank, notably in sales and trading and corporate finance," Ackermann said.

But "thanks to Deutsche Bank's strong risk management, our counterparty and credit exposures remained well controlled," he said.

Related UPI Stories
Latest Headlines
Trending Stories
Chelsea Clinton accidentally calls Bernie 'President Sanders'
Watch every star-studded Super Bowl commercial of 2016
Susan Sarandon responds to Piers Morgan criticizing cleavage
Two Virginia Tech students plotted 13-year-old's death, prosecutors said
Colin Powell, Condoleezza Rice got classified email on private accounts