October 5, 2016 / 1:32 PM / 2 years ago

Deutsche Bank must convince investors its business model is viable: IMF

A vintage clock with the logo of Deutsche Bank is pictured outside the bank's branch in Wiesbaden, Germany, January 28, 2015. REUTERS/Kai Pfaffenbach/File Photo

WASHINGTON (Reuters) - Deutsche Bank needs to convince investors that its business model is viable, a senior International Monetary Fund official said on Wednesday amid concerns about the bank’s financial strength.

“Deutsche Bank ... is among banks that need to continue to adjust to convince investors that its business model is viable going forward and has addressed the issues of operational risk arising from litigation,” Peter Dattels, the IMF’s monetary and capital markets deputy director, said at a news conference.

Germany’s largest lender has been engulfed by a crisis of confidence after the U.S. Justice Department said it should pay up to $14 billion to settle claims that it missold U.S. mortgage-backed securities before the financial crisis.

Reporting by Lesley Wroughton and David Lawder; Editing by Bill Trott

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