After a thorough examination, the Board members had come to the conclusion that a merger “would not provide sufficient added value”, it said in separate releases. This is true “also with a view to the implementation risks, restructuring costs and capital requirements associated with such a large Integration.”
On the 17. March had made the two largest private banks in Germany publicly, that they explore together the possibility of a merger. Both sides had emphasized, however, a merger is by no means a foregone conclusion. Deutsche Bank head Christian Sewing wrote at the time to the more than 90 000 employees of the Dax group: “The experience shows that there can be many economic and technical reasons that can be opposed to such a step.”
critics of the merger had reduction, especially a powerful and potential branch closures as arguments against the banks-wedding. 30 000 Jobs would be the cost of such a merger – the fear of the trade Union Verdi. In addition, institutions have ten years after the financial crisis, large construction sites, for example in the IT or in the case of legal Legacy issues. Therefore, there was considerable doubt as to whether a merger would really make sense.
for a Long list of scandals
Deutsche Bank strives for years, to former billions in profits to build and managed to 2018 after three years of losses in a row, just so the return in the black. Scandals and processes devoured over the years, billion, the share price is in the basement.
Commerzbank rose last autumn in the second stock market League and is also changing. In the case of the most recent balance sheet template, the Executive Board did not have to admit that the part-nationalised institution in reducing its cost is ten years after the financial crisis is still on target. Moreover, the private customers in Germany are extremely successful direct Bank, ING, Commerzbank will have to spend, contrary to the planning to 2020, still significantly more money for a Euro of profit than many a competitor -.
the leaders, however, has long been a “national Champion” in the German banking market – an internationally competitive institution that can compete with the large banks from the US and China permanently. Since last summer, Federal Finance Minister Olaf Scholz (SPD), and his Secretary of state, the former Goldman Sachs Germany head Joerg Kukies emphasize that Germany needed strong banks.
At Commerzbank, the Federal government has a say: After a rescue operation, with control of billions in the financial crisis, the state with 15 percent, the largest shareholder of the Institute. (SDA)