Deutsche Bank CEO says focusing on restructuring in 2021, not mergers

Christian Sewing, CEO of Deutsche Bank AG, addresses the media during the bank's annual news conference in Frankfurt
FILE PHOTO: Christian Sewing, CEO of Deutsche Bank AG, speaks during the bank's annual news conference in Frankfurt, Germany January 30, 2020. REUTERS/Ralph Orlowski

November 16, 2020

FRANKFURT (Reuters) – Deutsche Bank <DBKGn.DE> Chief Executive Officer Christian Sewing said on Monday that the German lender will focus on the bank’s restructuring over the next year rather than on mergers.

The European banking sector is too fragmented but cross-border mergers will not be attractive until the banking union is completed, he said at a banking conference.

(Reporting by Tom Sims, Patricia Uhlig and Hans Seidenstuecker; editing by Thomas Seythal)