As Deutsche Bank AG was pulled deeper into a downward spiral last year, its executives engaged nearly two dozen times with German Federal Ministry of Finance officials.
Representatives of Germany’s largest bank had 23 discussions with officials since the new government was formed in March, most of them with German Deputy Minister of Finance Joerg Kukies.
Chief executive officer Christian Sewing and supervisory board chairman Paul Achleitner each had six exchanges, according to a letter from the ministry.
The frequency of the talks, which included discussions of “strategic options,” highlights the close involvement of Berlin as Deutsche Bank struggles to reverse years of losses and declining revenue. The meetings started in mid-May, after a tumultuous leadership change that fanned concern about its strategy.
The shares lost half their value last year, stoking speculation about a merger with Germany’s second-largest bank, Commerzbank AG, which is still part-owned by the government.
The government would back a potential merger between the two banks, people familiar with the matter have said.
It has recently discussed plans with executives, including Sewing, on how to assist in a potential merger, Bloomberg News reported last month.
“The German government is open to economically sensible options,” the Fministry wrote.
The letter, reported earlier by Frankfurter Allgemeine Zeitung, was a response to questions from a mlegislator who had inquired what the government’s stance was regarding a potential merger of the two lenders.
Representatives for Deutsche Bank and the ministry declined to comment.
Other Deutsche Bank executives participating in the meetings include chief regulatory officer Sylvie Matherat, chief financial officer James von Moltke, investment banking head Garth Ritchie and Asia head Werner Steinmueller, the letter said.
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