April 4, 2019 / 6:45 PM / 7 months ago

Commerzbank's market share is too small, CEO says amid merger talks

FILE PHOTO: Martin Zielke, CEO of Germany's Commerzbank addresses the media during the bank's annual news conference in Frankfurt, Germany, February 14, 2019. REUTERS/Kai Pfaffenbach/File Photo

FRANKFURT (Reuters) - Commerzbank’s (CBKG.DE) market share is too small and organic growth is too slow, the lender’s chief executive told employees as he weighs a tie-up with Deutsche Bank (DBKGn.DE).

“That’s why we are also currently look at alternative options for growth,” CEO Martin Zielke told employees, according to comments posted on the bank’s intranet and seen by Reuters.

“The alternative of doing nothing is not an option,” he said.

Bloomberg first reported the comments.

Reporting by Hans Seidenstuecker; Writing by Tom Sims; Editing by Alexandra Hudson

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