Deutsche Bank to set up shop in Malta?

Deutsche Bank is showing an interest in setting up operations in Malta, timesofmalta.com reports.

The news comes as the same web site reports that Malta’s Prime Minister Lawrence Gonzi is currently in a meeting with top officials of the bank.

Deutsche Bank warned shareholders last week it lost more than $6 billion in the last three months of 2008, sending shockwaves on the stock exchange where its shares lost more than 8% in value.

It’s a bad day for Banks, Germany

Today’s a bad day for banks worldwide as Barclays announces that 2,100 of its employees will see the sack. 

The stock market is also feeling bad vibes coming from HSBC as it mulls over whether it should increase its capital by $30 billion.

Meanwhile Deutsche Bank has posted a record loss of $4 billion in 2008. This has prompted the German government to invest money in the bank.

Germany too is not not being spared by bad news today as Le Monde quotes German finance minister Pier Steinbruck saying that his government’s deficit will be equivalent to 4% of his country’s total production.

(Video: REM – It’s been a bad day)