Years of losses and strategic stagnation cost Deutsche Bank AG its place among European elite companies, Bloomberg reports.

The largest bank in Germany is excluded from Euro Stoxx 50 Index first time since its inclusion in 1998. Index compiled by Deutsche Boerse AG includes the biggest and most liquid stocks of euro area.

This step is a result of significant losses in bank’s market share after row of scandals and failures to meet changing requirements of regulatory authorities. Deutsche Bank was losing money three years in a row, and new turnaround plan raises concerns among most analytics.