Deutsche Bank said Wednesday it would sell its Abby Life business to Phoenix Life Holdings Ltd., both U.K.-based, for 935 million pounds (1.09 billion euros) subject to regulatory approval. "We continue to build a simpler and better Deutsche Bank," he said. The prospect of a heavy fine unnerved investors as Deutsche Bank is already struggling with weak profits. In an interview published Wednesday with Germany's Bild newspaper, Cryan said Deutsche Bank was not looking for any kind of a government bailout. "The German government is preparing no rescue plan for Deutsche Bank and there is no reason for such speculation," he told reporters in Berlin.

Source: ABC News September 28, 2016 10:19 UTC