Top executives from Deutsche Bank and Commerzbank have denied engaging in formal merger discussions, refuting claims by Focus magazine that their CEOs had received authorization to negotiate a potential consolidation. Two sources familiar with internal deliberations told Reuters that neither bank’s management nor supervisory boards had granted any mandate for such talks.
"There is no official mandate for merger talks with Commerzbank," one source stated, directly contradicting the magazine’s report. A second source dismissed the speculation as "total nonsense," emphasizing no recent supervisory board discussions had occurred regarding a merger with a larger rival.
Both banks’ spokespeople declined to comment on the conflicting accounts. Deutsche Bank shares fell 0.5% in early Frankfurt trading, while Commerzbank rose 0.1%. The uncertainty comes amid heightened regulatory interest in strengthening Germany’s banking sector under Finance Minister Olaf Scholz, who has advocated for robust financial institutions.
Speculation about a merger intensified after a source revealed U.S. investor Cerberus Capital Management, a major shareholder in both banks, expressed openness to a tie-up. However, both institutions face ongoing challenges: Deutsche Bank has endured years of losses and regulatory scrutiny since the 2008 financial crisis, while Commerzbank remains partially government-owned following a 2008 bailout.
The reported discussions coincided with a 2016 photo of Deutsche Bank and Commerzbank banners at Frankfurt’s stock exchange, highlighting the long-standing rivalry between the two institutions.
