Analysts are saying Deutsche Bank is 'kitchen sinking it'

Deutsche Bank shocked the market by announcing huge write-downs late on Tuesday.

The investment bank says it expects a third-quarter loss of €6.2 billion ($6.96 billion) and the board will recommend a cut to, and a possible elimination of, the dividend for the full year of 2015.

Shares dropped on the news on Wednesday morning, but are now rallying.

Analysts are divided on what the news means.

Some say this is Deutsche Bank's new boss John Cryan "kitchen-sinking it" - throwing everything he's got at the bank to fix its problems - while other believe this is the start of a painful multi-year process.

Here's what banking analysts are saying about the unexpected news.