The European banking sector is having a rough year.
With Deutsche Bank facing a $14 billion fine from the US Department of Justice, things just got worse.
Shares of Deutsch Bank have lost more than 60% over the past year. Barclays, Credit Suisse, Commerzbank, and Royal Bank of Scotland are all down at least 40% since September 2015.
Several years of weak growth, low interest rates, and more and more non-performing loans have gutted European bank profitability.
Overall the sector, represented by the EURO Stoxx Bank index, has lost more than a third of its value over the past 12 months.Read More