Europe needs to see more banking mergers for the sector to be in position to become more profitable, Deutsche Bank Chief Executive John Cryan said on Wednesday, amid a report Germany's biggest lender had looked at No. 2 player Commerzbank.
Europe's efforts to create a banking union and unify its capital markets will help to end scattered regionalism among banks, Cryan said at a banking conference.
"We need more mergers, at a national level, but even also across national borders," Cryan said.
Commerzbank rose around 4 percent, making it the top gainer in the STOXX 600, after Germany's Manager Magazin reported in its online edition that Deutsche Bank had in the past considered the idea of a merger with Commerzbank.