Deutsche Bank Exec Says European Bank Consolidation Is Coming
- Von Moltke opens the door a bit wider to possible merger
- Timing of industry mergers is ‘anybody’s guess at this point’
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Deutsche Bank AG endorsed the view that European banking consolidation is coming, underscoring the pressure the German lender is confronting over a possible government-brokered combination with Commerzbank AG.
"There’s a lot of talk in the sector overall that over time, mergers, consolidation in the European banking sector would be sensible for a variety of reasons," Chief Financial Officer James von Moltke said in a Bloomberg TV interview as fourth-quarter results were published. "We’ve tended to agree with that. What form it takes, how long it takes to do is kind of anybody’s guess at this point."