Deutsche Bank's boss says financial position is 'rock solid'

Deutsche Bank’s balance sheet is “rock solid” the German lender’s boss, John Cryan, said in a letter sent to staff, according to reports.

In a memo sent to the bank’s employees, Cryan reportedly said he was not concerned about Deutsche Bank’s ability to meet legal costs, although it will “almost certainly” have to add to its provisions for that concept.

Nonetheless, that had already been factored into the lender’s budget plans, Cryan said.

“I am personally investing time to resolve successfully and speedily open regulatory and legal cases,” he said.

“I want to remove the uncertainty among staff and in the market that these cases cause. A small group of senior people, led by me, will focus on this. For everyone else, we ask you to continue to focus on our clients and on the implementation of our strategy.”

Later in the day, German finance minister Wolfgang Schaeuble would tell Bloomberg Television he wasn't worried about Deutsche Bank either.

"I have no concerns about Deutsche Bank," Schaeuble reportedly said.

As of 13:41GMT shares in Deutsche Bank were lower by 2.59% to €13.56.