Deutsche Bank and Commerzbank are set to talk on a merger, prompting labor union concerns about possible job losses and questions about the advantage of the combination.
Germany’s two largest banks issued statements following separate meetings of their management boards but also said that a deal was far from certain. Report indicates a fast pace in the merger process, but the deal is uncertain.
The chief executive, Deutsche Bank, Christian Sewing, said the bank aims to remain a global bank with a strong capital market business with global network. The German government wants a merger due to the health of Deutsche bank which struggles to generate profits since the 2008 financial crisis.Do you want to be the first to get these news,updates and vital info?