Commerzbank

Commerzbank AG
Company typeAktiengesellschaft
FWB: CBK
LSE: CZB
ISINDE000CBK1001
IndustryFinancial services
FoundedFebruary 26, 1870; 154 years ago (1870-02-26) in Hamburg, Germany[1]
FoundersTheodor Wille et al.[1]
HeadquartersKaiserplatz,
Frankfurt am Main
,
Germany
Area served
Worldwide
Key people
  • Manfred Knof[2]
    (Chairman of the Board of Managing Directors)
  • Hans-Jörg Vetter[3]
    (Chairman of the Supervisory Board)
Services
RevenueDecrease €8.57 billion (2018)
Increase €1.245 billion (2018)
Increase €865 million (2018)
Total assetsIncrease €462 billion (2018)
Total equityDecrease €29 billion (2018)
Number of employees
49,174 (September 2018)
Capital ratio12.9% (2018)
Rating
  • bbb+ (S&P Global)
  • baa3 (Moody's)
  • bbb+ (Fitch)
Websitecommerzbank.com

Commerzbank AG is a major German bank operating as a universal bank, headquartered in Frankfurt am Main. In the 2019 financial year, the bank was the second largest in Germany by the total value of its balance sheet.[4] The bank is present in more than 50 countries around the world and provides almost a third of Germany's trade finance.[5] In 2017, it handled 13 million customers in Germany and 5 million customers in Central and Eastern Europe. Commerzbank is a member of the Cash Group.[6] 15% of the shares are owned by the Federal Republic of Germany and 85% are in free float.

The bank has been subject to several corruption investigations,[7][8] paying $US1.5 billion in fines in 2015.[8]

Commerzbank Tower, Frankfurt

References

  1. ↑ 1.0 1.1 Manfred Pohl, Sabine Freitag, ed. (1994). Handbook on the History of European Banks. Brookfield: Edward Elgar Publishing. p. 375. ISBN 1-85278-919-0.
  2. ↑ "Commerzbank Board of Managing Directors". Commerzbank. January 1, 2021. Retrieved January 20, 2021.
  3. ↑ "Supervisory Board". Commerzbank. August 3, 2020. Retrieved August 3, 2020.
  4. ↑ "Commerzbank fourth-quarter net profit jumps 51 pct, tops expectations". www.cnbc.com. Feb 14, 2019. Retrieved Feb 14, 2019.
  5. ↑ "How Germany Might Sell Its Commerzbank Stake: Four Scenarios". Bloomberg.com. 2018-03-27. Retrieved 2018-03-27.
  6. ↑ http://www.cashgroup.de/
  7. ↑ Sims, Tom. "German prosecutors raid Commerzbank in tax evasion probe". Reuters. Retrieved 2018-05-03.
  8. ↑ 8.0 8.1 Protess, Ben (12 March 2015). "Commerzbank of Germany to Pay $1.5 Billion in U.S. Case". The New York Times.
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