Reuters - Top firm exec expects bank mergers

Lanes Merge Road Sign

The urge to merge ?

Reuters reports that Deutsche Bank sees a need for the banking industry to consolidate further and sees Germany’s flagship lender well positioned for that development, deputy Chief Executive Marcus Schenck said.

“Consolidation in Europe will come, that is inevitable,” he said at an event in Duesseldorf on Friday. “We are ready for it.”

Deutsche Bank, which has bought German peers Postbank and Sal. Oppenheim over the last decade, has also held talks with Commerzbank over a potential merger in 2016.

At the time, the two lenders have shelved the project as they wanted to complete their restructuring efforts before taking any steps in the direction of a merger.

Hit the link below to access the complete Reuters article:

Deutsche Bank ready for industry consolidation - deputy CEO

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