Grenke falls after watchdog flags deficiencies in money laundering prevention at unit
06/09/2024 13:45
** Shares in Grenke GLJn.DE fall around 12% after German
financial authority BaFin said its subsidiary Grenke Bank AG
must remedy deficiencies in its prevention of money laundering
within 12 months
** A spokesperson for Grenke says the company takes the
statement from BaFin "very seriously", and that any deficiencies
of Grenke Bank would be remedied immediately
** An analyst says the statement from BaFin has caused
uncertainty in the market
** Stock on track for its worst day since Feb. 8, 2021, when
it closed 30.2% lower
(Reporting by Bernadette Hogg)
((bernadette.hogg@thomsonreuters.com))