The European banking sector is one of the worst hit sectors in the wake of the U.K. voting to leave the European Union. While most banks have seen their share prices fall, concerns over Germany's Deutsche Bank's performance had started to rattle both investors and financial markets well before the vote.
The bank's shares are down nearly 43 percent since the start of the year and nearly 20 percent since the referendum results were announced. Billionaire investor George Soros had earlier made a $111 million bet that Deutsche Bank stock would fall in the wake of the Brexit vote. However, Deutsche Bank's shares were seen to be trading more than 3 percent higher at 12.9 euros on Friday.
While the fall in Deutsche Bank's share price is not very different from some other banks like the Royal Bank of Scotland for instance, down nearly 40 percent since the beginning of the year, it faces regular comparisons with the ill-fated Lehman Brothers.
Add to that the bank's falling market valuation, currently pegged at $18 billion, similar to that of social network company Snapchat, and investors are increasingly worried. Deutsche Bank declined to comment on the concerns surrounding the bank.