The management board of Deutsche Bank has entered initial discussions with Commerzbank about exploring a merger, a source with direct knowledge confirmed to Reuters. The revelation follows earlier reports from Welt am Sonntag, which cited similar developments.
According to the source, conversations have begun within a limited working group and remain in the exploratory phase. No formal negotiations have been initiated, and both institutions have not publicly addressed the reports.
Spokespersons for Deutsche Bank and Commerzbank declined to comment on the potential collaboration. The idea of a merger has gained traction amid ongoing challenges facing Germany's banking sector, particularly under the leadership of Finance Minister Olaf Scholz, who has advocated for robust financial institutions.
Both banks have faced persistent difficulties in achieving consistent profitability since the 2008 global financial crisis. The proposed merger would represent a significant shift in Germany's banking landscape, potentially creating one of the country's largest financial institutions.
Reporting by Tom Sims and Andreas Framke; editing by John Stonestreet
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