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German finance minister sees no need to boost government holding in banks

German Finance Minister Olaf Scholz attends a Reuters interview in his ministry in Berlin, Germany, September 7, 2020. REUTERS/Hannibal Hanschke

BERLIN (Reuters) - Germany’s banks are relatively stable and the government sees no need to boost the state’s holdings in them, Finance Minister Olaf Scholz told a Bloomberg webcast on Tuesday.

Berlin has previously said it is ready to take stakes in strategically important companies that are endangered by the coronavirus pandemic, though no banks have yet been affected.

The government took a stake in German bank Commerzbank in 2009, during the global financial crisis. It still retains a 15% holding in the lender.

Reporting by Christian Kraemer, writing by Thomas Escritt