Deutsche Bank looking at major overhaul until 2022, not mergers
The move comes amid a sense of urgency in Europe about banks needing to scale up as Covid-19 deals a further blow to the weakened industry
Frankfurt — Deutsche Bank CEO Christian Sewing has told the lender’s supervisory board he is not focused on mergers at the moment and is instead concentrating on the bank’s overhaul until 2022, people with knowledge of the matter said.
Sewing made the statement at an annual supervisory board meeting held to discuss strategy. It comes amid a growing sense of urgency in Europe about the need for banks to scale up as the coronavirus crisis deals a further blow to the industry after a decade of weak returns...