June 1, 2018 / 8:36 AM / 2 years ago

Chinese investor HNA backs Deutsche Bank management after ratings cut

FRANKFURT (Reuters) - Chinese investor HNA Group Co Ltd [HNAIRC.UL] said it supported the management of Deutsche Bank after Germany’s leading bank had its credit rating cut by Standard & Poor’s and U.S. regulators expressed concern over its financial health.

“HNA remains committed to Deutsche Bank’s long-term success and looks forward to continuing to work with the management team in support of that goal,” said a spokesman for HNA, Deutsche’s largest shareholder with a stake of nearly 8 percent.

Reporting by Andreas Framke; Writing by Douglas Busvine

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