FRANKFURT, Sept 23: Bank of America is open to buying a European bank if the price is right but such a move is not among its strategic priorities, its Chief Executive Kenneth Lewis was quoted on Saturday as saying.

“But if the arithmetic is right and we can create value for our shareholders, then we will do it,” Germany's Welt am Sonntag quoted Lewis as saying in an article.

The paper said Lewis had told it that Bank of America was looking for organic growth in Germany and that it had no plans to buy Deutsche Bank, Germany's largest listed bank.

“I think it is very unlikely that we would (merge) with a large investment bank,” Lewis was quoted as saying.—Reuters