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EU: Deutsche Bank chairman rules out European merger

By  |  January 1, 2017

Deutsche Bank chairman Paul Achleitner has ruled out a European merger or a state bailout after the lender’s mortgage settlement with the US department of justice.

The bank, Germany’s biggest, last week announced a $7.2 billion (€6.8 billion) settlement with the US department of justice over its sale and pooling of mortgage securities in the run-up to the 2008 financial crisis.

“The management board in principle looks at everything that could help the business,” Mr Achleitner said in an interview with Frankfurter Allgemeine Sonntagszeitung.

“At the moment, however, enthusiasm for a pan-European merger is muted as we have other priorities,” he said when asked why Deutsche did not merge with Italy’s UniCredit or another lender.

Full Content: Irish Times

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