Commerzbank posted preliminary figures for the second quarter 2016. This had been triggered by a reduction in the Common Equity Tier 1 ratio (CET 1). The Group net profit for the second quarter 2016 is in line with consensus.
With the increasing integration of China into the global financial system, the renminbi is progressively gaining in significance in Europe. This has been confirmed by a survey of more than 200 companies which was conducted by Commerzbank and the Forsa institute.
Commerzbank completes sale of its Luxembourg-based international wealth management activities to Julius Baer (4-7-2016)
Commerzbank today completed the sale of Commerzbank International S.A. Luxemburg (“Cisal”) to Julius Baer. The sale encompasses client portfolios, a transfer of employees, as well as a corresponding IT platform.
The decision to leave the EU is a setback for the European Union. As a Bank we were prepared for this eventuality. Now negotiations between the EU and Great Britain need to start quickly, so there is clarity over the future operating framework.