Commerzbank

Commerzbank AG
Company typePublic (Aktiengesellschaft)
FWB: CBK
ISINDE000CBK1001
IndustryFinancial services
Founded26 February 1870 (1870-02-26) in Hamburg
FoundersTheodor Wille et al.
HeadquartersCommerzbank Tower,
Frankfurt am Main
,
Germany
Number of locations
15 operational foreign branches and 27 representative offices in over 40 countries (2023)
Area served
Worldwide
Key people
  • Bettina Orlopp
    (Chairwoman of the Board of Managing Directors)
  • Jens Weidmann
    (Chairman of the Supervisory Board)
Products
Brands
  • Comdirect Bank
  • mBank
Revenue €10.5 billion (2023)
105,000,000 euro (2021) 
€2.2 billion (2023)
Total assets €517.2 billion (2023)
Total equity €33 billion (2023)
Number of employees
42,098 (2023)
Capital ratio14.7% (2023)
Rating
  • bbb (S&P Global)
  • baa2 (Moody's)
Websitewww.commerzbank.com
Footnotes / references
Commerzbank Investor Relations

Commerzbank AG is a major German bank operating as a universal bank, headquartered in Frankfurt am Main.

Overview

In 2017, the Commerzbank handled 13 million customers in Germany and 5 million customers in Central and Eastern Europe. In the 2019 financial year, it was the second largest in Germany by the total value of its balance sheet.[1]

Operation

The bank is present in more than 50 countries around the world and provides almost a third of Germany's trade finance.[2] Commerzbank is a member of the Cash Group.[3] 15% of the shares are owned by the Federal Republic of Germany and 85% are in free float.

Controversies

The bank has been subject to several corruption investigations,[4][5] paying $US1.5 billion in fines in 2015.[5]

References

  1. ↑ "Commerzbank fourth-quarter net profit jumps 51 pct, tops expectations". www.cnbc.com. Feb 14, 2019. Retrieved Feb 14, 2019.
  2. ↑ "How Germany Might Sell Its Commerzbank Stake: Four Scenarios". Bloomberg.com. 2018-03-27. Retrieved 2018-03-27.
  3. ↑ http://www.cashgroup.de/
  4. ↑ Sims, Tom. "German prosecutors raid Commerzbank in tax evasion probe". Reuters. Archived from the original on 2018-12-21. Retrieved 2018-05-03.
  5. ↑ 5.0 5.1 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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