German banks to face profitability trouble in economic downturn

By David Freitas
09 Apr 2020

Rating agency Fitch says that the bleak economic outlook has exposed many of Germany’s banks’ weaknesses, prompting it to take action on the ratings of many of them. Deutsche Bank could become one of Europe’s banks most affected by the recession.

The 14 German banks on which Fitch has lowered its assessment due to the economic impact caused by the Covid-19 pandemic include national champions Commerzbank and Deutsche Bank.

“The high fragmentation of the sector, intense competition and vulnerable business models have prevented German banks from generating ...

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