Commerzbank

Commerzbank AG
Company typePublic (Aktiengesellschaft)
FWB: CBK
ISINDE000CBK1001
IndustryFinancial services
Founded26 February 1870; 154 years ago (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
Brands
Services
RevenueIncrease €10.5 billion (2023)
105,000,000 Euro (2021) Edit this on Wikidata
Increase €2.2 billion (2023)
Total assetsIncrease €517.2 billion (2023)
Total equityIncrease €33 billion (2023)
Number of employees
42,098 (2023)
Capital ratio14.7% (2023)
Rating
Websitewww.commerzbank.com Edit this at Wikidata
Footnotes / references
Commerzbank Investor Relations

The Commerzbank Aktiengesellschaft (shortly known as Commerzbank AG or Commerzbank) is a European banking institution headquartered in Frankfurt am Main, Hesse, Germany. It offers services to private and entrepreneurial customers as well as corporate clients.[1] The Commerzbank Group also includes the German brand Comdirect Bank and the Polish subsidiary mBank.

As one of the oldest banks in Germany,[2] Commerzbank plays a significant role in the country's economy.[3] It is the largest financier of German foreign trade, with strong ties to the German 'Mittelstand.' In addition, it maintains a presence in all major economic and financial centers worldwide. Since its establishment in 1870, Commerzbank has undergone several changes.[4] It was the first German banking institution to open an operational branch in New York City in 1971.

Another milestone was the acquisition of Dresdner Bank in 2009. In the wake of the global economic and financial crisis, the Federal Republic of Germany became a major shareholder in the company. To this day, the government remains a significant bank shareholder, which is listed on the DAX.[5] In recent years, the bank has undergone considerable transformation, returning to profitability, partly through substantial cost reductions and the evolution of its business model.[6][7]

  1. ^ Breinich-Schilly, Angelika (9 November 2022). "Commerzbank schärft Fokus auf Mittelstand und Vermögende". Springer Professional (in German). Retrieved 28 August 2023.
  2. ^ Manfred Pohl; Sabine Freitag, eds. (1994). Handbook on the History of European Banks. Brookfield: Edward Elgar Publishing. p. 375. ISBN 1-85278-919-0.
  3. ^ Schneider, Rembert (17 February 1995). "125 Jahre Commerzbank: Von Hamburg über Berlin, Düsseldorf nach Frankfurt und in die Welt. 'Die Bank an Ihrer Seite' ging oft eigene Wege". Börsen-Zeitung (in German). p. 5.
  4. ^ "Die Wurzeln der Commerzbank liegen in Hamburg". Frankfurter Allgemeine (in German). 15 February 1995. p. 22.
  5. ^ Mohr, Daniel (27 February 2023). "DAX: Commerzbank zurück und direkt an der Spitze". Frankfurter Allgemeine (in German). Retrieved 28 August 2023.
  6. ^ Kröner, Andreas (17 February 2022). "Jahresbilanz: Commerzbank kämpft sich in die Gewinnzone zurück und lockt mit einer Dividende". Handelsblatt (in German). Retrieved 28 August 2023.
  7. ^ Schaaf, Stefan (27 April 2022). "Commerzbank vs. Deutsche Bank: Die Gelben hängen die Blauen ab". Capital (in German). Retrieved 26 August 2023.