At an annual meeting of shareholders in Frankfurt, Deutsche Bank AG‘s chief executive Josef Ackermann said, „In our core businesses we are in a position to expand using our own resources.” He spoke amid fresh consolidation in the European banking industry. On Sunday, a merger of Italy’s UniCredit and Capitalia was sealed, and a takeover battle is brewing over ABN Amro of the Netherlands.
Ackermann did not rule out all acquisitions but said major purchases were not „in the foreground.” Deutsche Bank would only buy if there was „a really good opportunity.” Deutsche Bank’s most recent takeovers were of relatively small institutions: Berliner Bank of Berlin and Norisbank, a consumer lender. (news.monstersandcritics.com)
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