Shares in Deutsche Bank and Commerzbank have risen despite widespread skepticism about the merits of a possible merger between the two German lenders.
Germany’s biggest bank, Deutsche Bank, and Commerzbank announced Sunday they would discuss a possible combination, a deal Germany’s finance minister reportedly favors. The merger would bring together two lenders that have been troubled over recent years, but unions fear that it could lead to major job losses.
Shares in Commerzbank rose 6.4 percent in Monday morning Frankfurt trading to 7.55 euros ($8.55). Deutsche Bank climbed 4 percent to 8.13 euros.
Both banks have been restructuring. Deutsche Bank made its first full-year profit in three years in 2018.
The German government still has a stake of some 15 percent in Commerzbank, which received aid during the financial crisis.
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