Deutsche Bank AG and Commerzbank AG are the German banks with the largest business dealings in Britain. Felix Hufeld, president of German financial watchdog Bafin, has revealed concerns that large German banks, including Commerzbank and Deutsche Bank, would face consequences if the Brexit referendum resulted in a British exit from the EU. The warning comes as Chancellor Angela Merkel prepares to meet with her cabinet on Monday for an emergency meeting after Britain voted by 52% to 48% to leave the European Union.
Felix Hufeld, president of German financial watchdog Bafin, has revealed concerns that large German banks, including Commerzbank and Deutsche Bank, would face consequences if the Brexit referendum resulted in a British exit from the EU. The warning comes as Chancellor Angela Merkel prepares to meet with her cabinet on Monday for an emergency meeting after Britain voted by 52% to 48% to leave the European Union.