May 16, 2019 / 12:54 PM / 3 months ago

German public-sector banks Helaba, Deka mull tie-up - sources

HAMBURG/FRANKFURT, May 16 (Reuters) - German public-sector banks Helaba and Deka are considering a closer cooperation or even a tie-up as the country’s so-called landesbanks seek to consolidate in a fragmented local banking market, people close to the matter told Reuters.

The two Frankfurt-based banks, which are both owned by municipally-held savings banks, are in exploratory talks which could lead to the creation of a merged bank that could eventually serve as the nucleus for further deals with other landesbanks, they said.

The banks declined to comment. (Reporting by Arno Schuetze, Klaus Lauer and Patricia Uhlig, Editing by Tassilo Hummel)

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