Deutsche Bank shares rise in light of expected fine cut

Deutsche Bank shares recorded their biggest gain in five years amid reports the United States government is prepared to slash an AED 51 billion fine. Asian shares were broadly higher on Monday, tracking Friday’s gains on Wall Street after the troubled German lender appeared to have been thrown a lifeline from the US Department of Justice. Various media outlets had previously reported the authority was seeking an AED 51.5 billion settlement from Deutsche, with the bank responding it wouldn’t pay “anywhere near” that amount. But the lender’s shares surged on Friday following news reports suggesting it and the US Justice Department were close to reaching an AED 20 billion settlement.