This content is not available in your region

German bank sector needs to consolidate - ECB

German bank sector needs to consolidate - ECB
Text size Aa Aa

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)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on for a limited time.