Germany’s largest lender has been dealt yet another blow with the news that it will shortly be removed from the Euro Stoxx 50 Index.
In July, its fortunes appeared to improve when preliminary figures suggested profit had beaten estimates by 150%. However, a sharp decline in the bank’s market capitalisation this year means it will leave the index on 24 September.
The bank has had a troubled start to the year announcing a series of cost-cutting measures amid plans to restructure its corporate and private bank. It also failed US banking stress tests on internal controls. The bank said its plans would be “unaffected by the announcement by the index provider”.