Germany's second-largest lender Commerzbank
said Thursday it will cut 10,000 jobs and close 340 branches by 2024 as it
grapples with a switch to online banking and cashless payment options.
Germany's second-largest lender Commerzbank said Friday it plans to cut the equivalent of 4,300 full-time posts, one-tenth of its workforce, and shutter 200 branches in a fresh bout of
restructuring.
Germany's top lenders, Deutsche Bank and Commerzbank, plan to launch formal exploratory talks toward a possible merger, national media reported Sunday, following months of preliminary negotiations.
Two German unions on Wednesday firmly rejected the idea of a merger between top lenders Deutsche Bank and
Commerzbank, even as preliminary talks get underway after pressure from Berlin.
Angelika Rouyer simply made a routine check on an online banking app last week. She was in for a shock when app displayed a direct debit of over 8.5 billion euros for REWE - especially since Rouyer hadn't even been shopping there.
Shares in Germany's second-largest lender Commerzbank leapt Thursday as rumours that the government might soon sell off its stake set financial circles abuzz.
Germany's second largest lender Commerzbank said on Thursday it plans to cut 9,600 jobs by 2020 and withhold dividends to pay for a €1.1 billion restructuring.
Germany's big private banks are increasing fees for customers at other financial institutions to withdraw cash from their ATMs, making ordinary people pay the price for a bankers' spat.
A newly-created police unit in Düsseldorf has spent months investigating Luxembourg banks and their German subsidiaries on suspicion of helping clients evade tax and launder money, triggering a wave of raids on Tuesday.
Commerzbank has reached a preliminary agreement with US authorities to pay more than €800 million for violating sanctions on Iran and Sudan, a person familiar with the matter said Thursday.
Commerzbank, Germany's second-biggest lender, said on Thursday it returned to profit last year after suffering massive loses in 2012, but it warned the environment would remain difficult this year.
Hundreds of German police officers on Tuesday raided 40 branches of Commerzbank, the country's second biggest bank, over suspected tax fraud by hundreds of clients, the bank and prosecutors said.
Commerzbank, Germany's second biggest lender, began getting back on its feet in the third quarter. Deep restructuring measures like mass redundancies meant a long-awaited raise in net profit.
Germany's biggest banks have been lending US cities money to the tune of around €18.5 billion. Bankrupt Detroit, it emerged on Monday, has been on of the main recipients, causing concern for Commerzbank.
Commerzbank, Germany's second-biggest bank, said on Monday it had agreed to sell a huge portfolio of commercial real estate loans held in Britain to US bank Wells Fargo and Lone Star Funds.
Commerzbank, Germany's second largest bank, looks set to shed 5,000 jobs, it emerged on Tuesday. The move is part of an attempt to recover from heavy losses incurred during the 2008-2009 financial crisis.
Commerzbank, Germany's second-biggest bank, said Wednesday that it will undertake a €2.5 billion capital hike to repay further chunks of a state bailout it received during the 2008-2009 financial crisis.
Two years after the Fukushima nuclear disaster in Japan, major German banks are funding atomic power projects despite having promised not to do so, a new study claims.
Commerzbank said on Friday it would slash employee bonuses for 2012 with chief executive Martin Blessing foregoing his altogether following the bank's "unsatisfactory" performance last year.
Commmerzbank, Germany's second-biggest bank, said on Monday its full-year net profit tumbled to just €6.0 million in 2012 after heavy write downs pushed it into the red in the fourth quarter.
Germany aims to introduce legislation on banking separation in order to protect customers' deposits from riskier areas of business, according to a draft law seen by news agency AFP.
Commerzbank, Germany's second-biggest bank, said on Thursday it is looking to axe 4,000-6,000 jobs – or about 10 percent of its workforce – by 2016.
Commerzbank, Germany's second-biggest bank, will likely propose next month cutting as many as 6,500 jobs, some 18 percent of the workforce, a number of newspapers reported on Friday.
German bank Commerzbank has got hot under the collar and is planning to terminate a business contract with internet porn mogul Fabian Thylmann following his arrest on suspicion of tax evasion, according to <i>Welt am Sonntag</i>.
