Deutsche Bank Explored Merger With Commerzbank: Report

By Markets MarketWatch Pulse

Deutsche Bank AG has explored a possible merger with rival German lender Commerzbank AG , Manager Magazin reported on Wednesday, without citing any sources. The German magazine said the merger talks were only theoretical and at a very early stage. It was unclear whether the discussions will be resumed. The publication also said the bank was considering other options to bolster profitability, including a possible reintegration of its Postbank branches that were put up for sale. Deutsche Bank has recently struggled to stay profitable, reporting a 98% slide in profits in the second quarter, hurt by a weak performance in its trading and investment banking units. Its shares plunged to a record low in July after the U.K.'s Brexit vote fueled uncertainty in Europe. Shares of Deutsche Bank were up 1.8% on Wednesday, while Commerzbank rose 4%. Spokesperson from both Deutsche Bank and Commerzbank declined to comment on the report

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