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Merger on the cards for two German banks

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Merger on the cards for two German banks

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Germany’s rival banks Dresdner and Commerzbank are examining each others books ahead of a possible merger. One source said the momentum is speeding up as all parties have the desire to achieve a result quickly. Dresdner is part of the German insurance company Allianz.

Writedowns linked to the global credit crisis have hit Germany’s commercial banks underscoring their need to find partners to overcome tiny retail market shares in their fragmented home market.