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Norway's wealth fund says closely monitoring Deutsche Bank
October 7, 2016 / 11:01 AM / a year ago

Norway's wealth fund says closely monitoring Deutsche Bank

OSLO (Reuters) - Norway’s $882-billion sovereign wealth fund, the world’s biggest, is closely monitoring developments at Deutsche Bank, the fund’s deputy chief executive said on Friday.

“We don’t want to comment on the possibility of raising capital,” Trond Grande told Reuters on the sidelines of the fund’s third-quarter earnings presentation.

The Norwegian fund held a 2.47-percent stake in Deutsche at the end of 2015 and also holds bonds.

Deutsche has been engulfed in crisis since news emerged last month of a U.S. demand for a $14 billion settlement over the sale of toxic mortgage bonds. The bank is fighting the fine but could have to turn to investors for more money if it is imposed in full.

Reporting by Camilla Knudsen, writing by Terje Solsvik, editing by Gwladys Fouche

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