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Deutsche Bank CEO says Europe needs 'strong banks' amid merger speculation with Commerzbank

Sam Meredith

Deutsche Bank and domestic rival Commerzbank have been at the centre of merger speculation for years, but the Financial Times reported Tuesday that many external observers based in Frankfurt now believe a proposed deal simply comes down to a question of when — and not if. "Europe does not need as many banks as possible, Europe first and foremost needs strong banks," Deutsche Bank CEO Christian Sewing said. European banks are constantly shrinking in size.