Deutsche Bank, most mergers to save the EU banks – Milano Finanza

In Europe, serving more mergers in the banking sector, at the national level and even beyond national borders. This was repeated the CEO of Deutsche Bank , John Cryan, who took stock of the situation during a conference in Frankfurt. The ad accused, in particular, Germany has too many banks, especially small, and with margins too low, so even need aggregations across national boundaries “because only in this way we can be profitable in the long term and competitive international level, “he explained.

Cryan pointed out that in Europe today the banks are less risky than the pre-financial crisis period, but also” much less profitable. ” It serves so that the central banks to implement measures to counter the negative effects of lower interest rates. “It ‘true that European banks are locked in a fundamental dilemma,” he said, calling on the banks of the Old Continent to cut costs and improve technological levels. However, for the number one Deutsche Bank greater efficiency will not be enough to support the banking system, or to allow it to compete abroad.

in the meantime, because of the difficult situation that is going through the same Deutsche Bank have decided to explore options previously unthinkable just like that of a possible merger. And ‘what the German press writes, explaining that the first German private bank would open in early August a series of contacts with Commerzbank , institute partially nationalized during the financial crisis (15% of the capital is publicly owned), with a view of a possible merger.

the assessments would be in a very early stage and, because of the difficulty of the operation, would be decided “pause for thought” in late August. According to reports, the contacts would take place at the highest level with the involvement of the finance director, Marcus Schenk, and the CEO, Cryan, in coordination with the Chairman of the Deutsche Bank , Paul Achleitner.

In fact, according to Handelsblatt there have been contacts between the two banks, but the conclusion for now has been that the time is not yet ripe for such a step. The two banks would thus decided to put first things right in your own home. Already in 2015, he recalled Bild, the then CEO of Commerzbank , Martin Blessing, would make a series of analyzes to examine possible variants of a merger.

the actions of both institutions have reacted with strong gains at the Frankfurt Stock Exchange with Commerzbank , up by 4.09% to 6.34 EUR and Deutsche Bank an increase of 3.03% to EUR 13.27. Cryan has however already responded to the rumors, stating, always during the conference in Frankfurt, Deutsche Bank is not looking for partners on the German market. However, he admitted that he had met with a number Commerzbank , Martin Zielke, who said he” appreciated. “