×

Deutsche says hedge fund outflows 'typical' part of prime brokerage business

Deutsche Bank told CNBC on Thursday that it has seen outflows, but the prime brokerage business is "still very profitable" for the company.

Earlier on Thursday, U.S.-listed shares of Deutsche Bank hit a new all-time intraday low of $11.19 on the back of a report that a small number of hedge funds that do derivatives business with Deutsche have reduced their exposure.

Barry Bausano, chairman of Deutsche's hedge fund business, told CNBC on Thursday that while there have been some outflows, there have also been inflows, which he said is "part of the typical ebbs and flows" of the prime brokerage business.

Deutsche still has about 800 hedge fund clients, but Bausano said there is probably a perception issue for the bank.

Earlier, Deutsche said:

"Our trading clients are amongst the world's most sophisticated investors. We are confident that the vast majority of them have a full understanding of our stable financial position, the current macro-economic environment, the litigation process in the U.S. and the progress we are making with our strategy."

— CNBC's Wilfred Frost and Patrick Allen contributed to this report.