Frankfurt / Main (dpa) – Deutsche Bank wants to complete its group restructuring before possible mergers and acquisitions. “The best preparation for the next step is to be fit yourself. It’s like that in sport, and it’s like that in business,” said the head of the Frankfurt Dax group, Christian Sewing, on Wednesday at the online “Handelsblatt” “Banking conference.
Sewing again promoted cross-border mergers in Europe. But the board of directors of Germany’s largest financial institution is “not scratching its feet” and is not looking for possible partners, the manager emphasized.
Sewing was optimistic that Deutsche Bank will sustainably achieve its own targets for 2022 and drive up the return on equity as planned. “You should do this homework first,” said Sewing. “If we achieve that, then we will be of the size and strength that we can then perhaps think about other things at eye level.”
For cross-border mergers, however, a corresponding framework in Europe is also required. “Right now there is only one thing for us and that is the completion of our strategy,” said Sewing. “We do everything from our side. I think it would be good for the entire European banking market. I can only do one thing: prepare Deutsche Bank in the best possible way, and I’m very confident about that.”
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