First things first, though.
“We have a very clear plan to remain a global bank, but we have to work on profitability now,” Sewing said Monday at an event in Berlin. “If that happens, we can talk about other things,” he said in response to a question about a possible merger with Commerzbank. Italy’s Il Sole 24 Ore newspaper said Tuesday the bank may study a large capital increase for such a deal, without citing anybody. A spokesman for the bank declined to comment.
Combining Germany’s two largest banks has won the backing of government officials who are keen on creating a financial heavyweight to support the country’s exporters before a downturn strikes.
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