Commerzbank Aktiengesellschaft (OTCMKT: CRZBY, CRZBF, FWB: CBK) was founded in 1870 and is headquartered in Frankfurt am Main, Germany. It has 48,644 full-time employees. It is a global company for private and small business customers, corporate customers, and multinational companies. Financial service providers and institutional clients provide banking and capital market services companies. In terms of asset size, Commerzbank is the second largest banking company in Germany after Deutsche Bank .
Commerzbank AG (CRZBY):
Commerzbank is one of the three original German banks and one of the constituent companies of the German stock index DAX. In terms of asset size, the bank is the second largest bank in Germany, second only to Deutsche Bank.
Eurohypo, a subsidiary of Commerzbank, is a professional real estate bank. Due to recent money laundering incidents and an arrogant attitude towards customers, Commerzbank is currently in deep financial crisis. Starting in 2016, it plans to lay off 10,000 employees.
Commerzbank is divided into two divisions to operate: Private and Small-Business Customers and Corporate Clients.
Commerzbank services include:
1. Deposits, loans, securities, payment and pension products; wealth management services, such as securities and investment portfolio management, credit management, loans and real estate management services; consulting on trust and inheritance issues and corporate investment; providing Internet-based consulting And services; open-end real estate funds and asset structure of real estate, oil tankers, aircraft, rolling stock and renewable energy investment products; asset structure of financing products, equipment leasing services.
2. In addition, Commerzbank also provides payment and cash management solutions, flexible financing solutions, interest rate and currency management products, professional investment consulting services and investment banking solutions; Commerzbank is engaged in the trading and sales of equity and commodity-related financial products , As well as interest rates, credit and monetary instruments.
3. In addition, Commerzbank also provides arrangements and consulting services for stocks, debt and hybrid instruments; mergers and acquisitions, as well as securitization solutions and ship financing services.
As of March 31, 2018, Commerzbank has opened approximately 1,000 branches.
History of Commerzbank AG (CRZBY):
- Commerzbank was established in Hamburg in 1870 by a group of businessmen. In 1905, it merged with Berliner Bank and moved to Berlin. After World War II, it moved to Düsseldorf and Frankfurt in 1958. In August 2008, Lehman Brothers went bankrupt -one month before the full-blown financial crisis, Commerzbank announced that it would acquire all shares of Dresden Bank, one of Europe’s top investment banks, for 9.8 billion euros, resulting in mergers and acquisitions of new German companies The double impact of the crisis. After the merger of the two banks, the new Commerzbank surpassed Deutsche Bank in both the number of customers and the number of domestic branches. After the merger, the investment banking department of the Bank of Dresden was reduced and merged with the relevant departments of Commerzbank to form a new investment banking department, Corporations & Markets, and located in major financial centers in the world such as London, New York, and Hong Kong. There are offices in Tokyo and Singapore.
- Commerzbank established its Shanghai branch in 1993 and became the first foreign bank to obtain a full RMB business license in 2000. The current Shanghai branch office is located in Lujiazui World Financial Center, and there are branches in Beijing and Tianjin on the mainland. In addition, a large investment bank team is retained in Hong Kong and Singapore.
- On June 7, 2018, Deutsche Bank announced that it had formally negotiated with Commerzbank on the merger with the company’s top investors.
- On July 3, 2018, Reuters stated that Societe Generale will acquire the stock market and commodities business of Commerzbank.