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“We regularly explore what there is on the acquisition market, but first we have to consolidate internally and get the new international private banking business on its feet,” Claudio de Sanctis told Finanz und Wirtschaft.
“Consolidation in the European banking sector will certainly continue, and the recession could accelerate it,” he added.
De Sanctis heads Deutsche’s international private banking business, which has revenues of around 3 billion euros ($3.38 billion), or 13% of the group’s total.
