2024-01-15 13:37:08
Speculation regarding a merger between Deutsche Bank and Commerzbank has resurfaced almost 5 years following the failure of a previous attempt. In Frankfurt, Commerzbank shares gained 1.32% to 11.50 euros, thus posting one of the strongest gains in the Dax40 index, while Deutsche Bank shares lost 0.85% to 11.948 euros. Questioned by AOF, Deutsche Bank did not wish to comment. The latter will reveal its 2023 results on February 1, 2024 and Commerzbank on February 15.
Although a sale of the German state’s 15% stake in Commerzbank is not imminent, Finance Minister Christian Lindner is open to a sale and would prefer the German state to withdraw from the group, told Archyde.com a source close to the minister’s thoughts. Berlin recapitalized the banking establishment during the 2008 financial crisis.
A merger between Commerzbank and Deutsche Bank would allow the latter “to diversify further by being less dependent on volatile income linked to investment banking, which would strengthen its long-term stability,” said this source.
The development comes as Bloomberg reported on Friday that Deutsche Bank had recently intensified its internal discussions on the possibility of takeovers of European banks, including Commerzbank and ABN Amro, as its CEO, Christian Sewing, explores ways to boost the valuation of its bank.
The creation of a German banking champion resulting from the merger of Deutsche Bank and Commerzbank was envisaged in 2019, but discussions between the two establishments were interrupted following six weeks. The political world and the unions then expressed their opposition; there was particular concern regarding job destruction.
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