Deutsche Bank Recovers Losses Following Report Of $5.4 Billion Settlement

Shares of Deutsche Bank AG DB soared higher by more than 12 percent Friday morning following reports the bank is close to settling a fee with the U.S. Justice Department for substantially less than the originally reported $14 billion amount. Agence France Tweeted that Deutsche Bank is near a $5.4 billion settlement with the U.S. agency over its involvement in mortgage bonds prior to the 2008 financial crisis. Related Link: 4 Reasons Deutsche Bank Will Be Okay, According To CEO John Cryan

#BREAKING Deutsche Bank near $5.4 bn US settlement over mortgage bonds: source

— AFP news agency (@AFP) September 30, 2016

Bloomberg similarly reported that the German-based bank is nearing a $5.4 billion settlement, although Deutsche Bank declined to comment. After falling more than 6percent and hitting an all-time low Thursday, the stock traded recently at $12.89, up 12.4 percent on the day.