Deutsche Bank and Commerzbank have ended their talks about combining forces. Both say they've concluded the risks and costs would outweigh the benefits.
US President Donald Trump has failed in his legal attempt to stop Congress subpoenas to force Deutsche Bank to release his financial details. The German bank reportedly lent Trump over $2 billion in the last 20 years.
An article asserted Deutsche Bank failed to forward suspicions about transactions involving Trump to US authorities. Deutsche Bank said legal restrictions mean they cannot reveal "numerous inaccuracies" in the article.
Germany's two largest lenders have called off any further discussions about a merger. Berlin had promoted the idea of creating a banking "champion" capable of supporting Germany's export-orientated economy.
The national banking champion the German finance minister had been eager to get is not coming. DW's Henrik Böhme believes both Deutsche Bank and Commerzbank should brace for even more turbulent times.
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