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German bank sector needs to consolidate - ECB

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German bank sector needs to consolidate - ECB

German bank sector needs to consolidate - ECB
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FRANKFURT (Reuters) - Germany has too many banks and there is a strong case for domestic mergers, European Central Bank supervisor Sabine Lautenschlaeger said on Tuesday.

"We have many banks in Germany and, for sure, discussions about consolidation in Germany are a positive, a very positive idea," Lautenschlaeger told a conference. "In Germany the synergies within the country are pretty high."

(Reporting by Balazs Koranyi; Editing by Robin Pomeroy)

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