The management board of Deutsche Bank has agreed to hold talks with rival Commer...
FRANKFURT - The management board of Deutsche Bank has agreed to hold talks with rival Commerzbank on the feasibility of a merger, a person with knowledge of the matter told Reuters on Saturday.
Talks were at a very early stage and could fall apart, the person added, confirming information reported earlier by the Welt am Sonntag newspaper.Speculation about a possible merger between Germany’s two largest listed lenders has been rife for months, heightening under the tenure of Finance Minister Olaf Scholz, who has emphasized the importance of strong banks.
Welt am Sonntag reported that both banks were reacting to pressure from the government, which expects a decision on the merger in the coming weeks.The two lenders, which flirted with a merger in 2016 before focusing on restructuring, have struggled to return to sustainable profitability since the global financial crisis.
However, its market share has dwindled since the financial crisis and it has been plagued by three years of losses, ratings downgrades, failed stress tests and money laundering scandals. However, some of Deutsche Bank’s other key shareholders are opposed, stressing the need for patience to allow the bank to regain its footing.
Over the past year, Deutsche has undergone an abrupt management change that installed Sewing as CEO. The bank has trimmed its international operations to focus more on retail banking and its home market.In November, police searched the offices of all the members of Deutsche Bank’s board as part of an investigation into money laundering allegations linked to the Panama Papers.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Deutsche Bank management board agrees to Commerzbank merger talks: sourceThe management board of Deutsche Bank has agreed to hold talks with rival Commer...
Read more »
Deutsche Bank management board agrees to Commerzbank merger talks: sourceThe management board of Deutsche Bank has agreed to hold talks with rival Commer...
Read more »
Deutsche Bank, Commerzbank have no mandate for merger talks: sourcesDeutsche Bank and Commerzbank managers have no official mandate for merger talks...
Read more »
Deutsche Bank and Commerzbank's CEOs are reportedly resuming talks over a potential mergerDeutsche Bank CEO Christian Sewing and Commerzbank CEO Martin Zielke have been in intense talks for some days, Focus magazine reports.
Read more »
Deutsche Bank, Commerzbank CEOs resume talks over potential merger: FocusDeutsche Bank and Commerzbank's chief executives have resumed talks over a ...
Read more »
Deutsche Bank management board reportedly agrees to Commerzbank merger talksThe management board of Deutsche Bank has agreed to hold talks with rival Commerzbank on the feasibility of a merger, a person with knowledge of the matter told Reuters on Sunday.
Read more »
Deutsche Bank agrees to informal merger talks with CommerzbankDeutsche Bank AG’s top executives have agreed to hold discussions with rival Commerzbank AG about a potential merger, as Germany’s two biggest banks explore strategic options after suffering prolonged performance and share-price declines, people close to the banks said.
Read more »
Deutsche Bank Executives Agree to Informal Merger Talks With CommerzbankDeutsche Bank’s top executives have agreed to hold discussions with rival Commerzbank about a potential merger, as Germany’s two biggest banks suffer prolonged performance and share-price declines.
Read more »
Deutsche Bank, Commerzbank CEOs resume talks: Focus magazineDeutsche Bank and Commerzbank's chief executives have resumed talks over a ...
Read more »