May 20, 2020 / 10:47 AM / 17 days ago

Deutsche Bank says bank must be more profitable before consolidating

FRANKFURT, May 20 (Reuters) - Deutsche Bank Chief Executive Officer Christian Sewing said on Wednesday that the lender needed to become more profitable before participating in European banking consolidation.

Asked by a shareholder about whether the bank could avoid resorting to state aid as it deals with the impact of the coronavirus pandemic, Sewing said the bank was strong and the question did not apply.

Reporting by Tom Sims, Patricia Uhlig and Hans Seidenstuecker; Editing by Maria Sheahan

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