Business
22:22, 17-Jul-2017
Qatar’s royal family, China’s HNA to be reviewed
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The European Central Bank considers carrying out a special assessment of Deutsche Bank’s two largest shareholders, CGTN reports.
The ECB may launch so-called ownership control procedures to scrutinize both Qatar’s royal family and China’s HNA.
The two shareholders each own just under 10 percent of the shares of Germany’s flagship lender. The special assessment normally aims at shareholders whose holding surpass 10 percent.
It is to establish whether an investor is trustworthy and financially sound and whether the investor engages in any criminal dealings such as money laundering.
This is the first time ECB considers using an exemption to the rule, which it can activate if it establishes that both Qatar and HNA exert significant influence on the bank.
HNA increased its holdings of Deutsche Bank’s stake to 9.92 percent and became the lender's largest shareholder in May.