FRANKFURT, Germany – Germany's Deutsche Bank is offering to buy back billions of its own bonds in a show of financial strength after markets sold off its stock.
The Frankfurt-based bank, Germany's biggest, said it would offer to repurchase 3 billion euros ($3.4 billion) in euro bonds and $2 billion in dollar bonds. The bank said in a news release it had the resources to make the purchases without changing its funding plans.
Investors had sold off Deutsche Bank stock after it reported a yearly loss of 6.8 billion euros on Jan. 28. The slide continued after concerns arose about whether the bank could make payments on complex financial instruments due April 30.
Deutsche Bank co-CEO John Cryan has said the bank's finances are "rock-solid."
Shares were up 7.7 percent on Friday.