No agreement in wage talks for Deutsche Bank's Postbank, sources say

FRANKFURT (Reuters) -There was no agreement following a fourth round of talks between Deutsche Bank's Postbank management and the Verdi labour union in an ongoing wage dispute, two people with knowledge of the matter said on Wednesday.

The wage dispute comes as Germany's largest lender tries to keep a lid on costs and manage customer service problems at Postbank.

The union has demanded a 15.5% pay increase for the thousands of workers affected and has held a series of strikes in the standoff.

Deutsche Bank raised its offer to a 10% pay increase in two steps during Tuesday's negotiations, one of the people said.

Deutsche Bank declined to comment. A Verdi official said the union wasn't able to immediately comment.

The union made its initial demand for a 15.5% pay increase in December, a level it says is justified due to the rapid pace of inflation after a previous wage agreement was concluded in 2022.

(Reporting by Tom SimsEditing by Miranda Murray and Louise Heavens)

By Tom Sims