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Wirecard Explored Deutsche Bank Tie-Up in 2019

  • McKinsey analysis said combination could boost profit
  • Deutsche Bank quickly ended informal talks last year
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Before its meltdown in an accounting scandal, Wirecard AG toyed with a deal to vault into the global financial elite.

The embattled payments-processing company last year considered a tie-up with Deutsche Bank AG and even approached the lender with the idea, according to people familiar with the matter and a McKinsey paper reviewed by Bloomberg News. While the bank had more than $1 trillion in assets, its market value was less than Wirecard’s as recently as April.