Shares of Deutsche Bank hit fresh record lows Tuesday after the bank confirmed to Reuters it was involved in processing payments worth $150 billion for scandal-ridden Danske Bank.
A Deutsche Bank spokesperson confirmed in a statement to Reuters Monday that the lender acted as a correspondent bank for Danske in Estonia. “Our role was to process payments for Danske Bank. We terminated the relationship in 2015 after identifying suspicious activity,” the spokesperson said.
The bank’s shares sank more than 4 percent on Tuesday morning, hitting record lows.