Markets Want Deutsche Bank AG (USA) (DB) and Commerzbank Merger

Deutsche Bank chief calls for mergers in Europe

Deutsche Bank and Commerzbank executives held talks on a potential merger of Germany's two biggest banks earlier this month before ultimately rejecting the idea, Reuters reported on August 31, citing a source familiar with the matter.

Other than Brexit, Cryan also talked of the need for more mergers in the banking sector across Europe, banks needing to embrace technology and why governments must take a quality over quantity approach to regulation.

A spokesman for Deutsche Bank in Frankfurt declined to comment on the WSJ report.

Analysts have argued that Deutsche would be advised to find a partner once it has stabilized its business.

Deutsche Bank's boss has today given his backing to London as a financial hub, even though he thinks it might end up looking different to what we know now.

Their combined market value of around €26bn is less than half of France's BNP Paribas for example.

Shares in Deutsche Bank finished the session 2.44% higher at €13.19.

Both lenders were shown to be weaker than most peers in European stress tests last month.

US consumer confidence in August highest in 11 months
The share of consumers who expect more jobs to become available in coming months rose seven-tenths of a point to 14.2 percent. The share of consumers expecting business conditions to rise in the next six months rose from 15.7 per cent to 17.3 per cent.

Deutsche Bank's home market itself has too many banks that make too little money for the industry to be sustainable in Germany in its current form, Cryan said.

"We need further consolidation in banking to remain competitive internationally", he said.

German banks have nearly exclusively focused on earning money from charging a margin on the difference between short-term borrowing and long-term lending, using the revenue to subsidize retail and payments operations that were low-priced and often free for customers.

Mergers among banks could help remove capacity, increasing banks' pricing power and opening the way to healthier profits.

The head of Deutsche Bank made a rare public call on Wednesday for cross-border mergers in Europe, weeks after Germany's flagship lender scraped through regional stress tests.

"The regulatory trend at the moment is moving in the direction of shrinking rather than growing banks", he said.

MILAN, Aug 31 European shares edged lower on Wednesday, weighed down by losses among miners and energy stocks, but banks extended recent gains amid talk of possible tie-ups in the battered sector.

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