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Deutsche Bank and Commerzbank confirmed they talk about merger

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Christian Sewing
Europe   Christian Sewing, Deutsche Bank’s chief executive

Deutsche Bank and Commerzbank confirmed on Sunday they were in talks about a merger and both warned that a deal was far from certain.

Germany’s two largest banks issued short statements following separate meetings of their management boards, a person with knowledge of the matter said, indicating a quickening of pace in the merger process.

“In light of arising opportunities, the management board of Deutsche Bank has decided to review strategic options,” Deutsche said in its statement.

Christian Sewing, Deutsche Bank’s chief executive, told employees that Deutsche still aimed “to remain a global bank with a strong capital markets business...with a global network”.

Sewing also said that many factors could prevent a merger, and a Deutsche spokesman said the talks were expected to last for some time. For its part, Commerzbank described the outcome as open.

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