April 25, 2019 / 9:06 AM / 3 months ago

Deutsche-Commerzbank merger collapse just delays sector revamp - UBS CEO

ZURICH, April 25 (Reuters) - Consolidation in the European banking industry remains inevitable, UBS Chief Executive Sergio Ermotti told journalists on Thursday after Deutsche Bank and Commerzbank called off talks.

"Consolidation one day or the other will be part of the equation in Europe," Ermotti said on a call. "In my point of view, the fact that (Deutsche Bank and Commerzbank) were talking was indicative of the fact that that possibility is more than remote...So the consequences (of the cessation of talks) from my point of view is just a delay of an inevitable outcome." (Reporting by Brenna Hughes Neghaiwi; Editing by Michael Shields)

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