Capital Group hikes Deutsche Bank stake to more than 7%

FILE PHOTO: The logo of Deutsche Bank is pictured on a company's office in London, Britain July 8, 2019. REUTERS/Simon Dawson/File Photo

FRANKFURT (Reuters) - U.S. investor Capital Group has bought more shares in Germany's largest lender Deutsche bank DBKGn.DE taking its overall holdings to more than 7 percent, a regulatory filing showed on Tuesday.

“We are happy that Capital Group has increased their overall shareholding in Deutsche Bank. We see this as a clear vote of confidence in our strategic transformation and its implementation,” the bank said in a statement.

Capital Group used its Euro Pacific Growth Fund for the additional stake purchase of 3.61 percent, after using a different fund for its initial investment, the filing shows.

The investment comes a week after Commerzbank disclosed that Capital Group has hiked its stake in Germany’s second-largest lender to 5.31%.

Reporting by Hans Seidenstücker; Writing by Arno Schuetze; Editing by Riham Alkousaa