Deutsche Bank's board has agreed to hold talks with competitor Commerzbank about the possibility of a merger, a person with knowledge of the case told Reuters on Sunday.
The source, who spoke on condition of anonymity, confirmed information reported earlier by the Welt am Sonntag newspaper. The person said that first unofficial contacts have occurred in a very small group, and that the talks were at a very early stage.
A spokesman for Deutsche Bank and a spokesman for Commerzbank both refused to comment.
Speculation about a possible merger between the two banks has been diligent for several months, increasing during the earning of Finance Minister Olaf Scholz, who has spoken out in favor of strong banks.
Both lenders have struggled to return to sustainable profitability since the global financial crisis.