April 25, 2019 / 9:52 AM / a month ago

German bank body: Deutsche Bank/Commerzbank merger wouldn't make commercial sense

FILE PHOTO: Outside view of Deutsche Bank and Commerzbank headquarters in Frankfurt, Germany, March 18, 2019. REUTERS/Ralph Orlowski/File Photo

BERLIN (Reuters) - The head of Germany’s BdB banking association said on Thursday that a merger of Deutsche Bank and Commerzbank did not make sense and added that the German economy was big enough to accommodate several big banks.

Speaking after merger talks between the two banks ended in failure, BdB president Hans-Walter Peters said the banks had given good and justifiable reasons for their decision and added that this step should be respected.

“A merger would not make commercial sense in the current situation,” Peters said. “The decision doesn’t have a direct impact on customers and companies.”

Reporting by Christian Kraemer; Writing by Michelle Martin; Editing by Riham Alkousaa

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