The European Central Bank, is considering carrying out a review of Deutsche Bank's two largest shareholders, a regulatory source said on Monday. Ciara Lee reports.
It's Germany's flagship lender - but Deutsche Bank could face scrutiny over two of its biggest shareholders. A regulatory source has told Reuters that the ECB - Europe's top banking regulator - may launch a so-called ownership control procedure to review both Qatar's royal family and China's HNA They each own just under 10 percent of shares in the bank. SOUNDBITE (English) JAMES BEVAN, CHIEF INVESTMENT OFFICER, CCLA "The ECB has as a matter of history always looked at large positions in shareholder registers, typically above 10 percentage points, and is worried about trustworthiness, the source and application of funds. In the case of Deutsche Bank however, it has become very apparent that the number of active shareholders who vote at meetings is small, and therefore interests of less than 10 percent, can in fact drive corporate policy." News of the possible review was first reported by a German newspaper on Sunday. The country's finance ministry says it has taken notice of the reports but declined to comment futher. The ECB, Deutsche Bank, and HNA have also declined to comment.