Commerzbank Has No Merger Plans at Present

June 14, 2001 - 0:0
FRANKFURT Commerzbank, the fourth-biggest bank in Germany, has no plans at present to merge with another bank, AFP quoted Chairman Klaus-Peter Mueller as saying in a newspaper published on Wednesday.

Speaking to the daily ****Frankfurter Allgemeine Zeitung****, Mueller said: "There are currently no merger plans, neither for Commerzbank, nor, as far as I know, for any other bank."

So far, "There have been no cross-border tie-ups between big European banks. But it doesn't matter whether we find that good or not -- we're living in a Europe still dominated by national and nationalist tendencies, at least in the banking sector," Mueller said.

He noted that commerzbank had long-standing cooperation agreements with other big banks and "we want to maintain those during the next few years."