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

FRANKFURT (Reuters) – Deutsche Bank (DE:DBKGn) 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.