Deutsche Bank, Commerzbank held talks in Aug on tie-up: source

Frankfurt

TOP executives of Deutsche Bank and Commerzbank held talks on a potential combination of Germany's two biggest banks last month, a source familiar with the matter said on Wednesday.

However, the two lenders have shelved the project as they want to complete their restructurings before taking any steps in the direction of a merger, the source said. "There was a round of talks in late August in which (Deutsche Bank chief executive) John Cryan and (chief financial officer) Marcus Schenck were present," the source said.