German bank still going Deutsche
(15 June 2004 – Europe) Deutsche Bank continues to be the subject of merger rumours with Swiss rival Credit Suisse the latest bank to purportedly be a potential partner for the German bank.
Deutsche chief executive Josef Ackermann has made no secret of the bank’s wish to merge with a European rival in a bid to fend off competition from US mega banks.
Rumours have been circulating that Deutsche has been in merger talks with Credit Suisse as well as UK banks Lloyds TSB and Barclays.
Speaking at the bank’s annual general meeting, Ackermann said he anticipated further consolidation trends in the industry and that Deutsche did not want to remain a small bank and become marginalised.
Deutsche scrapped merger talks with Citigroup earlier this year, saying it had to become more financially viable to attract interest from other international banks.
Rumours have been circulating that Deutsche has been in merger talks with Credit Suisse as well as UK banks Lloyds TSB and Barclays.
Speaking at the bank’s annual general meeting, Ackermann said he anticipated further consolidation trends in the industry and that Deutsche did not want to remain a small bank and become marginalised.
Deutsche scrapped merger talks with Citigroup earlier this year, saying it had to become more financially viable to attract interest from other international banks.
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