Deutsche Bank, the embattled German lender, has found some support among leaders gathered at the World Economic Forum (WEF) in Davos.
In the past few years, the bank has made headlines for all the wrong reasons — from settlements with the U.S. Department of Justice, to management reshuffles, weak earnings, constant restructuring, merger speculation and steep stock price falls.
Nonetheless, business and political leaders at Davos have thrown in their support for the bank's recovery path.
"Deutsche Bank ... suffered some setbacks in the past, but it is basically sound and it can recover and so the question is what are the details of such strategy. And as we discussed with the CEO and the board and all the people concerned, I trust in Deutsche Bank and I will lend my political support to Deutsche Bank," Peter Altmaier, the German minister for economic affairs and energy, told CNBC earlier this week.
European banks are increasingly under pressure to get a strategy in place to deal with an uncertain and fast-changing environment. Interest rates are still at record lows and there's uncertainty around Brexit, along with fears of a global slowdown.