Deutsche Bank has faced serious problems as most financial institutions. Several hundreds of its managers agreed to forgo one month of their fixed pay to accelerate the cost-cutting program. In fact, Deutsche Bank is still recovering after the 2008 financial crisis. It is experiencing significant difficulties and trying to achieve financial balance. The situation is really alarming. Moreover, some analysts suppose that the bank is on the edge of bankruptcy. In an attempt to stay afloat after several years of losses, Deutsche Bank is actively implementing the cost reduction program. However, there are almost no results. In 2018, the International Monetary Fund officially said that Deutsche Bank "is one of the most important net contributors to systemic risks in the global banking system". Last year, the G20-affiliated Financial Stability Board (FSB) put Deutsche Bank in a list of banks and financial organizations which are supposed to be "too big to fail." The size and power of such organizations is so great that their bankruptcy may lead to a systemic global crisis accompanied by a domino effect.
However, the coronavirus outbreak and its consequences have significantly shaken Deutsche Bank thus pushing it closer to bankruptcy.