Deutsche Bank profits from crisis

"Deutsche Bank steals deposits of national banks," headlines Portuguese online news site i. Fearing that their savings could melt Greece default, with contagion spreading to Portugal, Portuguese investors are pulling their savings from national institutions to deposit them in the German bank, the web site says. According to i, the volume of deposits in Deutsche Bank continue to increase thanks to this competitive advantage which it enjoys since Deutsche Bank Portugal ceased, in early August, to be a national subsidiary of the German bank to become a simple branch office. Thus, its Portuguese employees can assure Portuguese investors that their savings, placed in Germany, are sheltered from a potential default by Portuguese banks.