Deutsche Bank, Commerzbank shares up despite merger concerns

Germany's biggest bank, Deutsche Bank, and Commerzbank announced Sunday they would discuss a possible combination, a deal Germany's finance minister reportedly favours. The merger would bring together two lenders that have been troubled over recent years, but unions fear that it could lead to major job losses.

Shares in Commerzbank rose 6.4 per cent in Monday morning Frankfurt trading to 7.55 euros . Deutsche Bank climbed 4 per cent to 8.13 euros. Both banks have been restructuring. Deutsche Bank made its first full-year profit in three years in 2018. The German government still has a stake of some 15 per cent in Commerzbank, which received aid during the financial crisis.

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Two major Deutsche Bank shareholders skeptical of Commerzbank mergerA German banking union also said on Monday it would strongly oppose any merger that resulted in large job cuts
Source: globeandmail - 🏆 5. / 92 Read more »

Germany’s Deutsche Bank and Commerzbank go public on merger talksGovernment pushes union of Deutsche Bank and Commerzbank but critics say it would just create one bigger bank with the same problems
Source: globeandmail - 🏆 5. / 92 Read more »

Premarket: Global stocks bounce after worst week of year, Brexit stresses sterlingPremarket: Global stocks bounce after worst week of year, Brexit stresses sterling GlobeInvestor
Source: globeandmail - 🏆 5. / 92 Read more »