DB - One of Deutsche Bank's biggest shareholders says now's the time for bank mergers

Thomas Lohnes/Getty Images News Sheikh Hamad bin Jassim bin Jabor Al Thani, one of Deutsche Bank's ([[DB]] -1.5%) largest shareholders and Qatar's former prime minister, urges European financial services firms to consolidate through mergers if they want to compete with Chinese and American banks. "Everybody's waiting to have a better valuation to think about merging, but I believe to merge now is better because the market is being taken by the big banks," he said at the Qatar Economic Forum, according to Bloomberg reporting. He declined to specifically comment on what Deutsche Bank should do, only saying, "mergers are inevitable." Sheik Hamad, also a prominent property investor, currently favors hotels over office or retail space as vaccinated people return to their pre-pandemic behavior, he said. Deutsche Bank and German competitor Commerzbank had been in talks to merge in 2019; at the time, Qatari shareholders were resisting such a deal because

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One of Deutsche Bank's biggest shareholders says now's the time for bank mergers