A top Deutsche Bank shareholder is reportedly going to unload its entire stake (DB)

One of Deutsche Bank's largest shareholders is reportedly planning to unload the entirety of its stake in the bank.

Reports from both the Wall Street Journal and Bloomberg suggest that Chinese conglomerate HNA is planning to sell its stake in Germany's largest lender as part of an effort to refocus on its core business after several years of investing heavily in overseas businesses.

HNA currently owns around 7.6% of Deutsche Bank, but as recently as last year that figure was closer to 10%, Bloomberg reported on Friday morning.

At Deutsche Bank's current share price, that stake is worth roughly $1.7 billion.

Soon after his appointment, Sewingannounced plans to scale back US operations and cut jobs.

"Even a quick look at the figures makes one thing clear: we have to take action — fast,"Sewing said in a letter sent to staff published by the bank.

As well as thousands of job cuts, the programme has seen the bank stop giving employees free fruit in a bid to cut costs.

Deutsche Bank in Februaryreported a full-year loss of €497 million ($586 million)for 2017, its third straight year of losses.