Deals
Deutsche Bank CEO Opens Door to Deals After Profit Gain
- Germany’s biggest bank needs 18 months to improve earnings
- Lender can consider ‘other things’ after doing its homework
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Deutsche Bank AG is open to a merger once the lender has boosted its profitability over the next 18 months, Chief Executive Officer Christian Sewing said.
“We have a very clear plan to remain a global bank, but we have to work on profitability now,” Sewing said Monday at an event in Berlin. “If that happens, we can talk about other things,” he said in response to a question about a possible deal with Commerzbank AG. Italy’s Il Sole 24 Ore newspaper said Tuesday the bank may study a large capital increase for such a deal, without citing anybody. A spokesman for the bank declined to comment.