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Deutsche Bank expects a merger with competing rival Commerzbank by the middle of the year if the lender 's restructuring efforts fall short of its targets, Bloomberg said Thursday.
FILE PHOTO – Banner photos of Deutsche Bank and Commerzbank in front of a trader at the Frankfurt stock exchange in Germany on September 30, 2016. REUTERS / Kai Pfaffenbach
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FRANKFURT: Deutsche Bank expects a merger with rival Commerzbank by mid-year if the lender's restructuring efforts fail to meet their targets, Bloomberg said Thursday. .
Citing people knowledgeable about the thought of leaders, the report says that such an agreement could become the only option if the bank's performance does not improve in the first three months of 2019.
Deutsche Bank declined to comment.
German Finance Minister Olaf Scholz has embarked on a wave of mergers speculation in favor of strong banks in Germany, whose team has frequently met with senior executives. Deutsche Bank, Commerzbank and the main shareholders.
However, a member of the supervisory board of Deutsche Bank said earlier this week that board members did not want a merger with Commerzbank in the near term.
(Written by Arno Schuetze, edited by Thomas Seythal)
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