Deutsche Bank sees $8bn outflows from ETF business

Adding to bank's woes

Deutsche Bank has seen outflows of $8bn from its ETF business so far this year, adding to financial pressures from a misselling probe that could cost it $14bn.

The beleaguered bank has been involved in a $14bn legal battle with the US Department of Justice over the selling of residential mortgage-backed securities before the financial crisis.b The bank's shares are down 41% year-to-date as a result. The German bank has already put aside €5.5bn to cover potential litigation costs, but the threat on additional expenses weighs on its prospects. It is said to be looking to sell part of its asset management arm to raise its capital buffers and cover the legal costs, while some market participants have also suggested its ETF arm could be up for sa...