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Financials

Deutsche Bank merger with Commerzbank not expected anytime soon - union

FRANKFURT, Dec 13 (Reuters) - The German labour union Verdi does not expect a merger anytime soon between the nation’s two biggest private banks - Deutsche Bank and Commerzbank - a union official said on Thursday.

Jan Duscheck, head of the union’s banking division, said that he does not “assume at the moment that a merger of the two banks will be seriously considered in the foreseeable future.”

“The task now is to sharpen the business models in both banks and implement their strategic plans,” he said.

Duscheck also sits on Deutsche Bank’s supervisory board.

Spokesmen for the two banks declined to comment.

Reporting by Tom Sims; editing by Thomas Seythal

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