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 top 12 Deutsche Bank managers pocketed €55.7 million for 2018, mainly due to more bonus payments. Unions are already angry at likely job cuts if a merger with Commerzbank goes ahead.
Commerzbank had wanted Copernicus, a digital project to be run by its Polish subsidiary, mBank, to be the first Pan-European lender. When it got cold feet last year, mBank's ex-boss decided to go ahead anyway.
Germany's two largest lenders, Deutsche Bank and Commerzbank, have confirmed they are in merger talks, bowing to pressure from the government. Both banks saw their share prices collapse by more than half last year.
Deutsche Bank is exploring a merger with rival Commerzbank, according to reports. The German government, Commerzbank's largest shareholder, has reportedly been pressuring both sides to decide soon.
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