Deutsche Bank AG (DB) stock struggled to keep pace with its financial sector peers Friday following a shareholder vote that could allow Europe’s biggest bank to issue more capital in the coming years.
Investors at the bank’s annual meeting in Frankfurt approved a raft of measures put forward by management and the supervisory board, including the potential to issue new debt and equity capital to shore up it balance sheet. Shareholders also rejected a motion to bring in an independent auditor to examine the record of current and past management during a series of scandals that have cost the bank billions in fines and penalties.
