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Deutsche Bank and Commerzbank confirm merger talks

Theo Osborn | 11:42 Monday 18th March 2019

Deutsche Bank and Commerzbank have confirmed that they are engaging in discussions with an open outcome on a potential merger.

Deutsche Bank claimed that in light of arising opportunities, its management board has decided to review strategic options.

It is doing this to focus on improving the bank’s growth profile and profitability.

It noted that there was no certainty that any transaction would occur.

This comes after Deutsche Bank recently posted its first full-year net profit since 2014, with pre-tax profit up 8% to €1.3bn for the full-year of 2018.

It also reported loan growth of €14bn and revenue growth in its private and commercial bank.

Last month, Commerzbank reported a €1.2bn operating profit in 2018.

It gained nearly 420,000 net new customers in retail banking, while 3,500 new corporate clients also joined.

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