Sewing’s New Deutsche Bank Confronts Old Fears in Virus Crisis

The mood at Deutsche Bank AG’s headquarters in Frankfurt was tense. It was late March, and clients were drawing down credit lines at such a rapid pace that the bank’s treasury department was on alert.

Liquidity never was an issue, according to a person familiar with the matter. But the episode, which also attracted the attention of the European Central Bank, underscored the still fragile health of the lender after five straight annual losses.

Less than a year into its latest and most severe restructuring plan yet, Deutsche Bank is under the microscope as governments rely on banks to ...