Commerzbank AG is the second largest credit institution in Germany, and one of Europe's major banks. Commerzbank is mainly active in commercial banking, retail banking and mortgaging. Investment banking, capital market, equities, and corporate banking operations are now integrated as a division of the Commerzbank group. Total assets: €676 billion (as of September 30, 2012). Net profit: €1.43 billion (2010), €638 million (2011).
Commerzbank holds a nationwide network of branch offices throughout Germany and numerous branch offices in the EU and Europe. EuroHypo AG, international bank for commercial real estate and public sector finance, is an integral part of Commerzbank. Commerzbank has above 60 offices in 50 countries and serves more than 14 million private clients as well as one million business and corporate clients worldwide.
In 2009 Dresdner Bank merged into Commerzbank, bringing with it the Dresdner Kleinwort subsidiary.
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24.02.2012 Commerzbank reports fourth quarter 2011 net profit of €316 million, compared to €257 million in fourth quarter 2010. Full-year 2011 net profit totaled €638 million. More
04.11.2011 Commerzbank reports third quarter 2011 net loss of €687 million, compared with net profit of €113 million in third quarter 2010.
06.05.2011 Commerzbank reports first quarter 2011 operating profit of €1.14 billion (approx. US$ 1.7 billion), compared to €771 million in the first quarter 2010. More
23.02.2011 Net profit (IFRS) attributable to Commerzbank shareholders amounted to EUR 1.4 billion in the full year 2010; in the fourth quarter of 2010 it came to EUR 257 million.
05.08.2010 Commerzbank posts a net profit of EUR 1.1 bn in the first half of 2010. More
No more queues in front of ATMs - 23.01.2013 Reduced transaction duration is an important issue for customer satisfaction and for efficient use of Banking channels, especially at ATMs. Every measure taken to fasten cash withdrawals, most widespread used ATM transaction, is beneficial to both customers and banks.
Swiss bank Wegelin & Co. to close after US tax evasion fine - 04.01.2013 Switzerland's oldest bank is to close permanently after pleading guilty in a New York court to helping Americans evade their taxes. Wegelin & Co., which was established in 1741, has also agreed to pay $57.8 million in fines to US authorities. Source: BBC
Banks seen shrinking for good as lay-offs near 160,000 - 16.11.2012 Major banks have announced some 160,000 job cuts since early last year and with more lay-offs to come as the industry restructures, many will leave the shrinking sector for good as redundancies outpace new hires by roughly two-to-one. Source: Reuters