U.S. arm of Deutsche Bank only bank with capital plan rejected by Fed

1 News Net

1 News - 1 Movies - 1 Music - 1 eBooks - 1 Search

 

Deutsche Bank explores merger with Commerzbank: reports

Deutsche Bank AG’s Chairman Paul Achleitner is considering a merger with rival Commerzbank AG and is speaking with top investors and government officials about the potential tie-up, Bloomberg reported late Thursday. Sources told the news outlet there have been no formal talks yet between the two German banks and that a deal isn’t seen as imminent. Deutsche Bank said in a statement that the chairman is constantly asked about this matter. “His answer is always the same: ‘All the pro and contra arguments can be read in analyst reports and the media. So what do you think? He sees no reason to actively raise this issue.” A representative from Commerzbank wasn’t immediately available for a comment. Deutsche Bank shares fell 1.5% in Friday’s trade, while Commerzbank shares were down 2.8%. The Deutsche Bank stock is down more than 40% year-to-date following a string of bad news. Last week, the U.S. Federal Reserve designated DB’s U.S. business in “troubled condition,” while S&P Global Ratings downgraded the company over concerns related to its restructuring plans.

1 News Net

1 News - 1 Movies - 1 Music - 1 eBooks - 1 Search

 

Leave a Reply