Bundesbank's Weber says banking mergers make sense

Bundesbank President Axel Weber said promoting mergers in the German banking industry may ``make sense'' as such combinations can be cheaper to carry out than partnerships with banks outside the country.

``It can make sense to create a national champion,'' Weber told reporters in Frankfurt late Wednesday. ``When two big German private banks integrate, you have a similar culture of employees, a similar customer base and no integration costs in this sense.'' Mergers with companies abroad create