Deutsche Bank, Commerzbank Face Collateral Damage From Greensill
- Germany’s largest lenders will likely top up deposit insurance
- Depositor payouts triggered this week after insolvency case
The Deutsche Bank AG headquarters in Frankfurt.
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The insolvency of Greensill Bank may cost Deutsche Bank AG and Commerzbank AG dearly over the next few years.
Germany’s two biggest lenders face having to make the largest payments to replenish Germany’s deposit-insurance funds as a result of compensation to depositors after the winding down of Greensill Bank, Commerzbank Chief Executive Officer Manfred Knof said at a conference late Tuesday. Along with UniCredit SpA’s German unit HVB, the two are the largest contributors to the funds, he said.