GETTY Deutsche Bank shares hit their lowest level in 24 years on Monday morning

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Stock in the bank dived by more than six per cent during Monday morning trading, after the German Chancellor Angela Merkel reportedly said the government would NOT step in to provide state rescue of the country's financial firms should they need it. Panicked investors rushed to dump shares in Deutsche off the back of the news, sending prices to their lowest level since 1992. The German lender is looking increasingly fragile amid this latest setback.

Bloomberg Deutsche's share price has lost more than half its value this year

Little more than a week ago, investors fervently sold-off the bank, after it emerged that US authorities want Deutsche to pay a huge $14billion (£10.5bn) in fines over a scandal related to the financial crisis. Deutsche's value has now plunged by more than half this year, as concerns over low interest rates and the struggling eurozone economy also plauge the bank.



Chris Beauchamp, chief market analyst at trading platform IG, said: "The parlous state of Deutsche Bank exploded onto everyone’s radar once again.



"The bank has been limping along for months now, but reports that Angela Merkel may not step in to rescue the bank have sent the shares tumbling, dragging banks across the UK and Europe lower as a result.



"The gut feeling of most investors is that Berlin would be forced to act to avoid the loss of a key institution, but gut feelings do not always make the best trades."

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