Deutsche Bank considered Commerzbank merger, Magazin reports

[LONDON] Deutsche Bank AG, the German lender restructuring businesses to bolster profitability, explored a possible merger with rival Commerzbank AG, Manager Magazin reported, without saying where it obtained the information.

The considerations were "only of a theoretical nature" and at very early stage, the German magazine reported on its website on Wednesday.

The German lender is also mulling options such reintegrating its Postbank consumer branches that were earmarked for sale, according to Manager Magazin.

A spokesman for Deutsche Bank declined to comment.

Deutsche Bank shares have dropped about 43 per cent this year as chief executive officer John Cryan struggled to shore up capital and reverse losses.

As part of his overhaul announced last year, he announced thousands of jobs cuts and scrapped dividend payments.

Mr Cryan is scheduled to speak at a conference in Frankfurt on Wednesday.

BLOOMBERG