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JPMorgan CEO Dimon: There is no reason Deutsche Bank should not get over its problems


Deutsche Bank got a strong vote of confidence Monday from a big name — and competitor — on Wall Street.

Amid market worries that Deutsche is facing a capital squeeze, JPMorgan Chase CEO Jamie Dimon said he believes the German lender is going to be fine.

"There is no reason that Deutsche Bank shouldn't get over its problems," the head of the largest U.S. bank by assets said of the fourth-largest European bank by assets.

Deutsche shares have gotten pounded as investors worry that it has a weak capital position that is in even more danger due to a looming settlement with the U.S. Department of Justice involving the firm's mortgage-backed securities operations. The banks American Depositary Receipts are down about 47 percent in 2016 and nearly 53 percent over the past 12 months.

"They have plenty of capital, plenty of liquidity," Dimon said during an telephone interview on CNBC's "Power Lunch" program. "We want all these banks to get through because it's better for everybody."

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