September 25, 2018 / 7:55 AM / in 25 days

BDI head says Germany needs strong domestic bank

BERLIN (Reuters) - Germany needs a strong domestic player in the banking sector, Germany’s BDI industry association president said on Tuesday when asked about speculation that Germany’s top two banks, Deutsche Bank (DBKGn.DE) and Commerzbank (CBKG.DE), could merge.

German magazine Der Spiegel reported earlier this month that executives of Deutsche Bank and Commerzbank were increasingly open to the idea of a merger.

But Deutsche Bank Chief Executive Christian Sewing said late on Monday that the bank needed to focus on its homework for the time being.

Reporting by Michael Nienaber; Writing by Maria Sheahan, Editing by Riham Alkousaa

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