Deutsche merger chatter spooks markets

It’s been less than a year since Christian Sewing took over from John Cryan as CEO of Germany’s biggest bank over growing dissatisfaction with respect to the progress of a turnaround plan that began way back in 2016 and which was showing little sign of returning the bank to sustainable levels of profitability.

John Cryan did manage to avert a government bailout by securing €8bn of new funding back in April 2017, something that looked very unlikely towards the middle of 2016, however the problems for Deutsche showed no signs of receding, and while we did get a minor recovery the gains proved to be somewhat short lived.

Since then the share price has continued to come under pressure, hitting record lows of €6.68 in December, before rebounding over the course of the past few weeks.

Over the last few months we’ve heard multiple rumours of a potential merger with Commerzbank, a bank

... read more at: https://www.cmcmarkets.com/en-ie/news-and-analysis/deutsche-merger-chatter-spooks-markets

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