Rating agency Fitch Ratings reduced outlook of Deutsche Bank AG from "stable" to "negative", Bloomberg reports. Reduction of bank's outlook is a result of new turnaround plan of German lender.

In Fitch's opinion, Deutsche Bank will face significant risks during restructuring. All other ratings of the company, including long-term issuer default rating BBB+, has not changed.

At the moment bank's management, which was switched in April, tries to accelerate costs cut as well as downsizing investment banking activities around the globe. Bank's shares dropped by 16% since the leadership of Deutsche Bank was changed. Reduction in rating of S&P Global Ratings added problems to the company.

On Friday shares of Deutsche Bank gained 1,6% in Franckfurt together with whole European equity market.