Wednesday, August 31, 2016

German bank Commerzbank and speak in secret meetings on merger – THE WORLD

It’s no secret: The German bank and its small rival Commerzbank have tons of problems. At Deutsche Bank, a large number of contaminated sites pushes the profit in earlier unimaginable way. The business is not going smoothly in both. They desperately seek a way

The top managers of the problem houses had an idea:. A merger, a merger of two local top players. “Yes, there were talks”, confirm financial circles a report of the magazine “Bilanz” enclosed with the Friday edition of the “world”. “However, without result.”

This does not mean that the idea is completely off the table. Postponed is not necessarily canceled. First, however, done nothing, they say. Reasons for this could be many: Firstly, there is the question of the business sense by a merger of German and Commerzbank. Both have huge domestic activities. The could be folded together. In a next step, but it was precisely in the domestic market of thousands of digits are deleted.

A merger changes in the capital lack nothing

Politically this is a potential problem: the federal government is at the Commerzbank involved. If just these Bank with the blessing of black, red and announce a big job cuts a year before the next parliamentary elections, likely not appeal to everyone.

Of not to mention would be a merger would not solve the equity problem of both big banks. Both houses are not blessed with abundant capital. In both cases, there is speculation over again about the possibility of capital increases. Even the question of whether the German bank needs government support is discussed in Berlin. A merger would not change the lack of capital.

As an alternative it would also be an option to separate the various business units of the banks first and then to two completely new money worldwide reassemble. What sounds impressive on paper, is difficult in practice. And in this case arises even more urgently the question of where the capital markets business of Deutsche Bank then should get its funding.

The workforce reduction is just beginning

On a bench conference in Frankfurt gave himself German Bank CEO John Cryan then quite reserved towards this idea: “No, we do not look for partners in the German market,” said the Briton. “We are just trying to be less.” And his Commerzbank-mate Martin Zielke put it somewhat flapsiger: “. We know, like us – I think”

“Record” According to have the top secret talks between the bankers in early August received, meticulously prepared by the staff positions. At Deutsche Bank accordingly directed the former Goldman Sachs banker Marcus Schenck negotiations. In consultation with Reserve Chairman Cryan and the Supervisory Board Chairman Paul Achleitner. At Commerzbank turn already Zielke’s predecessor Martin Blessing met initial preparations.

An option is the merger – in whatever form – sure. Despite the termination of the talks. Especially the German Bank currently has but obviously a lot to do with the elimination of existing contaminated sites. Still, the bank performs thousands processes. Still have their costs at a much too high a level. The workforce reduction begins now in earnest.

is a success not guaranteed

Even more important: Especially is not yet clear what kind of bank the German Bank will be in the future. An international bank, the German and European customers accompanied to anywhere in the world with specialty products?

Or a major German bank with the home market of Germany firmly in mind? What after a deal with Commerzbank they would possibly.

One thing is likely Shareholders have learned: A success is not positively guaranteed if the German bank is incorporated another German money house. See Postbank. She wants the German largest bank just resell.

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