Germany's two biggest banks, Deutsche Bank and Commerzbank, are in talks about a merger to create what would be one of the world's largest lenders. Both banks insist negotiations are at an exploratory stage.
The German lender is cutting thousands of jobs and shedding whole business lines as part of a massive overhaul. Analysts say cost cutting alone is not going to rid Deutsche Bank of its current woes.
The German lender has reported a bigger loss than predicted last month when it announced a major business overhaul. The troubled bank says it would be profitable if not for the restructuring costs.
Deutsche Bank says it will cut 18,000 jobs by 2022 as part of a major restructuring of the embattled bank. For years, Germany's biggest lender has suffered from weak performance and legal woes.
Chief executive Christian Sewing has promised to speed up the embattled bank's "transformation," as he faced disgruntled shareholders and activists in Frankfurt.
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