Deutsche Bank and Commerzbank shares increased yesterday after talks began over a potential merger, with Deutsche shares rising by 4 per cent to €8.15 and Commerzbank by more than 7 per cent to €7.65.
Germany’s two largest lenders confirmed “exploratory” merger talks on Sunday, putting an end to months of speculation.
However, despite Deutsche shares rising, they are still nowhere near the €112 level that was seen before the financial crisis.
The merged bank would have a market value of €25bn, hold a fifth of the Germany’s high street banking business, control around €1.8trn worth of assets and employ 140,000 people. Though, German union Verdi raised concerns that 30,000 jobs could be lost as a result of the merge, primarily due to branch closures.
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The new episode of The Mortgage Insider podcast, out now
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In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.
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In the latest episode of the Mortgage Insider podcast, Phil Spencer is joined by Eloise Hall, Head of National Accounts at Kensington Mortgages, and Alastair Douglas, CEO of TotallyMoney.
In the latest episode of the Mortgage Insider podcast, Phil Spencer is joined by Eloise Hall, Head of National Accounts at Kensington Mortgages, and Alastair Douglas, CEO of TotallyMoney.
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