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No Bafin probe into Deutsche Bank share price drop - source

Reuters

FRANKFURT (Reuters) - German financial watchdog Bafin has not launched a special investigation into the drop of Deutsche Bank and Commerzbank shares earlier this week, a person familiar with the matter said on Thursday.

Earlier, German newspaper Handelsblatt reported Bafin had launched such a probe.

Deutsche Bank shares have fallen around 40 percent since the start of the year, leading a slump across the European banking sector earlier this week.

Its shareholders are worried about the ability of management to execute a two-year turnaround plan announced last October.

"When the total market fluctuates, it is completely normal that Deutsche Bank shares do the same," the person said, adding it was a key task of Bafin to monitor share prices.

"However, there is no investigation," the person added.

(Reporting by Andrea Kroener; Writing by Harro ten Wolde; Editing by Andreas Framke and Mark Potter)