(Bloomberg) -- Bundesbank President Joachim Nagel said robust banks are required to ensure companies get the financing they need.
“We need strong and robust banks,” he told Deutschlandfunk on Friday. While declining to comment specifically on a merger of Commerzbank AG, the country’s second-biggest lender, with Italy’s UniCredit SpA, he outlined the objectives regulators will take a close look at.
“In a banking merger — however it pans out — it comes down to business models complementing each other and whether we end up with a bank that’s competitive,” he said. “It’s also clear that Germany needs strong banks to finance companies to meet future challenges. That’s exactly what will matter in the case in question.”
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