During a presentation at a financial conference on Wednesday, Deutsche Bank AG CEO Josef Ackermann said his bank would likely be able to make purchases and steal the market share of competitors. "We need consolidation in the German banking market," Ackermann said. "We won¹t, however, stray from our discipline."
The remarks come amid reports Deutsche Post AG may pull an auction of its Deutsche Postbank AG unit after a Friday supervisory board meeting. Ackermann confirmed his interest in Germany's biggest retail bank.
Ackerman's comments coincided with Lehman Brothers Inc.'s prediction of a fiscal third-quarter loss of $3.9 billion and planned asset sales. The German CEO believes a bailout is on the horizon for the troubled U.S. investment bank.
"I'm convinced that all banks are aware of their responsibility to Lehman, and we will find a solution," he said. - Andrew Bulkeley
