Germany's two biggest banks are discussing a merger that could result in a national powerhouse capable of competing with Wall Street
Deutsche Bank, Germany's largest lender by far, confirmed Sunday that it was holding merger talks with Commerzbank. The German government holds a 15% stake in Commerzbank."In light of arising opportunities, the management board of Deutsche Bank has decided to review strategic options," the company said in a statement. It cautioned that there was no guarantee of a deal.
Yet there are doubts that getting bigger will resolve Deutsche Bank's consistent problems with profitability and help it compete with American rivals that have fared much better following the global financial crisis.Deutsche Bank posted an annual profit last year for the first time since 2014.It lost €409 million in the final three months of 2018, however. The bank said the losses were caused by challenging financial markets, especially for its fixed income trading division.
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