Commerzbank AG is considering retaining the illustrious Kleinwort Benson brand for its U.K. private banking activities, but will ditch the Dresdner Kleinwort name as part of the agreed EUR9.8 billion takeover of its German rival, according to The Daily Telegraph on Wednesday.

Sources at Commerzbank told The Telegraph no decision had yet been made on whether to sell or keep Kleinwort Benson, but that the German group considered both the operation and the brand attractive.