There are no easy mergers, as Dresdner Bank proved again last month in its failed link-up with Commerzbank. But both this attempt and that between Dresdner and Deutsche Bank were particularly difficult, and their failure ought to be no surprise. Both were defensive deals, aimed at cutting costs and exiting unprofitable businesses – not least retail banking.
The benefits of the deals for expansion were not put forward because there were so few. All three banks are similar entities in virtually the same markets; all that differs is scale.
Access intelligence that drives action
To unlock this research, enter your email to log in or enquire about access
