Deutsche Bank CEO says focusing on restructuring in 2021, not mergers

FILE PHOTO: Christian Sewing, CEO of Deutsche Bank AG, speaks during the bank’s annual news conference in Frankfurt, Germany January 30, 2020. REUTERS/Ralph Orlowski

FRANKFURT (Reuters) – Deutsche Bank DBKGn.DE Chief Executive Officer Christian Sewing said on Monday that the German lender will focus on the bank’s restructuring over the next year rather than on mergers.

The European banking sector is too fragmented but cross-border mergers will not be attractive until the banking union is completed, he said at a banking conference.

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