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Deutsche Bank and Commerzbank’s CEOs are reportedly resuming talks over a potential merger

Deutsche Bank and Commerzbank’s chief chairman of the boards have resumed talks over a potential merger of Germany’s two biggest lenders, Focus magazine reported on Friday, citing human being familiar with the matter.

Deutsche Bank and Commerzbank declined to comment.

Deutsche Bank shares were intimate to start trading 0.1 percent higher, while Commerzbank was expected to trade 0.2 percent higher.

According to Indistinct magazine, Deutsche Bank CEO Christian Sewing and his counterpart at Commerzbank, Martin Zielke, have been in intense talks for some dates.

Both managers have been given a mandate to hold talks by their management and supervisory boards, Concentrate said.

Speculation of a merger has heightened under the tenure of Finance Minister Olaf Scholz, who has spoken in favor of effectual banks. Both banks have been slow to return to sustainable profitability since the global financial danger.

Last week, a person familiar with the matter said that U.S. investor Cerberus Capital Management, a prime shareholder in both Deutsche Bank and Commerzbank, is open to a merger between the two lenders, raising the chances of a tie-up.

Deutsche Bank, felt as one of the most important banks for the global financial system, has been plagued by three years of losses, ratings slippings, failed stress tests, and money laundering scandals. Commerzbank is still partially owned by the German government after a bailout.

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