Deutsche Bank CEO: M&A not priority this year - CNBC interview
Reuters
Published Jan 18, 2024 14:59
FRANKFURT (Reuters) - Deutsche Bank (ETR:DBKGn) Chief Executive Officer Christian Sewing told CNBC on Thursday that mergers and acquisitions were not a priority for the German lender this year.
The CEO of Germany's largest bank was speaking on the sidelines of the World Economic Forum in Davos days after the emergence of renewed speculation of possible mergers among European banks.
"I wouldn't say it's on top of my priority, to be honest," he was quoted as saying on the potential for M&A.
Sewing reiterated that M&A among banks was inevitable but that certain preconditions must be met, including more harmonised conditions for banks in the European Union.
"Obviously, with regard to the sharply increased interest rates, you have to think about fair value gaps given the mortgage books of a lot of banks, so I don't think it is a priority for this year," he said of M&A.
He said the bank was focusing on its own business but that "smaller add-on" deals were possible.
Get The App
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.