FRANKFURT – Deutsche Bank Chief Executive Christian Sewing told a banking conference on Wednesday that he was concentrating on Deutsche Bank (NYSE: DB), not on the German government’s plan to reduce its stake in Commerzbank.
Answering questions at the Handelsblatt banking conference in Frankfurt, Sewing said that his focus was on his own bank and not other banks, referring to a broad banking landscape with strong international banks.
On the topic of M&A and potential banking consolidation, he said competition enlivens the banking business and that German asset manager DWS Group was looking at M&A opportunities but that they had to fit.
On Germany’s attractiveness as a place to invest, Sewing expressed concern with regard to recent local elections and political instability in the country. He said that international investors have been looking at Germany with increasing skepticism, also around the country’s ability to reform.
(Source: ReutersReuters)
