German lender Deutsche Bank sought to reassure investors on Monday, telling CNBC that its chief executive hadn't asked for government assistance in its negotiations with the U.S. Department of Justice.
"At no point of time (CEO) John Cryan has asked the chancellor for support in the negotiations with the Department of Justice and he doesn't intend to do that. He is very strong on that position," Jorg Eigendorf, head of communications and senior group director at Deutsche Bank, told CNBC Monday.
His comments come after Deutsche Bank shares saw renewed selling in stock markets after a report seemed to rule out any state-aid for the embattled German lender. Focus, a German weekly news magazine published in Munich, reported on Friday that Chancellor Angela Merkel had categorically ruled out stepping in to help Deutsche Bank with its U.S. legal troubles in 2017, citing unidentified government officials. The article states that Merkel made her views clear in discussions with Deutsche Bank CEO John Cryan.
Shares of the troubled lender slipped 6 percent on Monday and hit an all-time low. Eigendorf admitted that the share price is low but said that the company was more focused on its "credit story" which he said was "very strong."
"It is fundamentally strong. A lot of those in the market understand and if they analyze the basics and the fundamentals that we are quite strong. Look at our credit story, evaluate risk very low, our credit portfolio very strong, our liquidity position very strong, very comfortable and the third quarter is almost over and I can tell you today that we are fine and very comfortable here," he added.