Deutsche Bank Is ‘Absolutely Rock-Solid,’ Cryan Tells Employees

Deutsche Bank AG co-Chief Executive Officer John Cryan told employees that Germany’s largest bank is “rock solid” as investor concern about capital and funds drove down the value of its stock and bonds.

In a memo on Tuesday, Cryan wrote that the Frankfurt-based lender has a “strong” capital and risk position and “took advantage of this strength to reassure the market of our capacity and commitment to pay coupons to investors” who hold the bank’s additional Tier 1 capital. The comments come just hours after Chief Financial Officer Marcus Schenck told staff that the bank is able to meet obligations on the notes both this year and next.