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Germany's largest bank said last week that it was working with
financial watchdog BaFin and Wirecard's insolvency administrator
on possible support for Wirecard Bank.
On Tuesday, Deutsche Bank CEO Christian Sewing said it was "too
early to judge" how the bank may step in.
"We all now need transparency and that's the first task to be
done," Sewing said at a webcast event organised by Bloomberg
News.
Sewing said that for Deutsche, with its focus on transaction
banking, it was "almost an obligation" to look at the Wirecard's
bank for opportunities or to stabilise it.
Last week, Deutsche Bank had published a statement that said it
was "in principle prepared" to provide support "in the context
of a continuation of business operations, if such assistance
should become necessary".
Sewing also said Deutsche Bank's exposure to Wirecard was very
limited.
Wirecard filed for insolvency last month owing creditors 4
billion euros ($4.51 billion) after disclosing a 1.9 billion
euro hole in its accounts that its auditor EY said was the
result of a sophisticated global fraud.
(Reporting by Tom Sims and Hans Seidenstuecker; Editing by Maria
Sheahan and Michelle Martin)
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