Deutsche Bank CEO says acquisitions not a 'priority' as Commerzbank rumors swirl
Publishing timestamp: 2024-01-18 08:01:58
Summary
Deutsche Bank CEO Christian Sewing stated that merger and acquisition activity is not a priority for his group, dampening speculation about a potential merger with Commerzbank. Concerns about bank profitability and reports of the German government considering selling some of its company stakes have sparked rumors of a tie-up. However, Sewing emphasized that certain preconditions, such as regulatory requirements and the finalization of the banking union, need to be met for any M&A activity in the banking industry. He also mentioned that Deutsche Bank is focusing on its own business and may consider smaller add-ons if opportunities arise.
Sentiment: NEUTRAL
Keywords: deutsche bank ag, commerzbank ag, banks, business news, mergers and acquisitions, wall street,