div > div.group > p:first-child"> "We have concluded that this transaction would not have created sufficient benefits to offset the additional execution risks, restructuring costs and capital requirements associated with such a large-scale integration," Christian Sewing, chief executive officer of Deutsche Bank, said in a statement Thursday morning.
"The general feeling is that the merger is not a great idea since Commerzbank doesn't have the same amount of credibility on the street as Deutsche Bank when it comes to clients and this can impact future trades," the source said. More recently, there's been reports of the Federal Reserve investigating its role in a money-laundering scandal at Danske Bank and an inquiry from two U.S. House of Representatives committees on the lender's ties to President Donald Trump. Last week, a report in U.K. newspaper The Guardian said the German bank could face legal action over a $20 billion Russian money-laundering scheme.
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