The cash desk sign of a nearby car park is pictured next to the head quarters of Germany’s largest business bank, Deutsche Bank, in Frankfurt, Germany, January 29, 2018. REUTERS/Kai Pfaffenbach
FRANKFURT (Reuters) – Qatar is considering increasing its stake in Deutsche Bank (DBKGn.DE), newspaper Handelsblatt reported on Sunday.
The Qatari royal family already holds a 6.1 percent stake in Deutsche Bank, according to Deutsche Bank’s website. Qatar controls over 9 percent, once derivative positions are take into consideration, Handelsblatt said.
“We will invest in a large financial institution in Germany. This was discussed in the margins of the Doha Forum and will be announced shortly,” Yousuf Mohamed Al-Jaida, CEO of the state-owned Qatar Financial Center, told Handelsblatt.
Al-Jaida did not want to name the company, but he confirmed that it was an institution in which Qatar was already involved, Handelsblatt reported.
This, and the fact that Christian Sewing, CEO of Deutsche Bank, was the only top manager of a German group to take part in the Doha Forum over the weekend clearly point to Deutsche Bank, the paper said.
A spokesman for Deutsche Bank declined to comment.
Reporting by Tom Sims; Editing by Toby Chopra and David Evans