Deutsche Bank Checked Merger Scenario With UBS: Handelsblatt Reports

(RTTNews) - German banking giant Deutsche Bank, at its annual strategy meeting in mid-September, has considered a possible merger with Swiss bank UBS to study the effects of any tie-up, the German business daily Handelsblatt reported.

Deutsche Bank's Board of Management and Supervisory Board carried out a whole series of scenarios, including mergers with various partners. The bank also studied about a possible merger with Commerzbank.

The report said, citing financial circles, that a potential merger with UBS fares better than a deal with Commerzbank. Deutsche Bank and UBS would complement each other well with their different strengths in investment banking and asset management. Of all the options presented, UBS was emphasized from an economic point of view.

The news comes as Federal Finance Minister Olaf Scholz reportedly complained that Germany and Europe lacked internationally competitive banks.