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Deutsche Bank, Commerzbank increasingly open to merger

Key Points
  • Executives of Deutsche Bank and Commerzbank are increasingly open to the idea of a merger, German magazine Der Spiegel reported on Tuesday.
  • It said that German Finance Minister Olaf Scholz could also imagine a deal to combine Germany's two biggest lenders.
Banners of Deutsche Bank and Commerzbank are pictured in front of the German share price index, DAX board, at the stock exchange in Frankfurt, Germany.
Kai Pfaffenbach | Reuters

Executives of Deutsche Bank and Commerzbank are increasingly open to the idea of a merger, German magazine Der Spiegel reported on Tuesday.

It cited one person as saying that Commerzbank Chief Executive Martin Zielke "would rather do it today than tomorrow," but that Deutsche Bank CEO Christian Sewing had said internally a merger was not on the agenda in the next 18 months.

It said that German Finance Minister Olaf Scholz could also imagine a deal to combine Germany's two biggest lenders. "We do not comment on banks' strategic decisions," a spokeswoman for the German Finance Ministry said.

Deutsche Bank and Commerzbank both declined to comment.

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Markets

'The game's changed': Central banks are no longer driving markets, strategist says

Key Points
  • Christopher Wood, an equity strategist at investment group CLSA, said that in the last decade, the central banks have been the key driver of markets.
  • The "great thing" about that situation was that they were "doing their best to be entirely predictable," he told CNBC at the 2018 CLSA Investors' Forum in Hong Kong.
  • "In the last 12 to 18 months, the game's changed. The central banks are no longer the key driver ... the key driver is politics," Wood said.