Deals
Deutsche Bank Considers Financial Support for Wirecard Bank Subsidiary
- Wirecard Bank had been central to parent’s claims of growth
- Deutsche Bank in talks with regulator, Wirecard administrator
The Wirecard AG headquarters during a police and prosecutors raid in Munich, on July 1.
Photographer: Michaela Handrek-Rehle/BloombergThis article is for subscribers only.
Deutsche Bank AG is weighing the acquisition of all or part of disgraced Wirecard AG’s bank, potentially throwing the business a lifeline after one of the biggest corporate scandals in recent years.
The Frankfurt-based lender is in touch with regulator BaFin, Wirecard Bank’s management board and administrators on possible further steps to help Wirecard’s finance unit, a Deutsche Bank spokesman said by e-mail, without elaborating. Options include taking on pieces of Wirecard Bank or the unit in its entirety, people familiar with the matter said, adding that the lender is still debating other ways to help Wirecard Bank and hasn’t made a final decision.