Commerzbank's History Commerzbank's History

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1990
  • Legal domicile moved from Düsseldorf to Frankfurt am Main.
  • After the fall of the Berlin wall, a liaison office opened in January in East Berlin. By the start of economic, monetary and social union on 1 July, Commerzbank has outlets in 50 locations in the former German Democratic Republic.
  • Acquires 25% stake in the Düsseldorf real-estate group Müller International.
  • Commerz Immobilien GmbH starts operations in Frankfurt am Main.
  • Branch opened in Singapore.
  • Stock-exchange listing in Spain.
1991
  • Structural reform to establish three-tier branch network.
  • Commerz Finanz-Management Gesellschaft für Finanzplanung und Vermögensverwaltung mbH offers individual asset planning strategies.
  • Hispano Commerzbank (Gibraltar) Ltd. targets high-net-worth individuals.
  • PMC Personal Management Consult GmbH offers personnel and management advice.
  • CICM Fund Management and Commerz Futures LLC established in Dublin.
1992
  • Berliner Commerzbank AG merged with parent bank.
  • Commerz Grundbesitz-Investmentgesellschaft mbH in Wiesbaden (CGI) manages the open-end real-estate fund Haus-Invest.
  • Product and real-estate leasing merged in CommerzLeasing GmbH, Düsseldorf.
  • Liaison office opened in Brussels for contact with European Community.
  • Prague representative office converted into a branch.
  • Subsidiary Commerz International Capital Management (Japan) Ltd., Tokyo. established.
  • Listing on Milan stock exchange.
1993
  • Restructuring at headquarters establishes five corporate divisions.
  • Commerzbank (Budapest) Rt., starts operations in Budapest.
  • Acquisition of Caisse Centrale de Réescompte S.A., Paris.
  • Stake in P.T. Bank Finconesia, Jakarta.
1994
  • Commerz-Credit-Bank AG Europartner in Saarbrücken incorporated into parent bank.
  • Commerzbank acquires 51% of Hypothekenbank in Essen AG, Essen.
  • A subsidiary for derivatives, Commerz Financial Products (CFP) domiciled in Frankfurt am Main, is established.
  • When Banca Commerciale Italiana, Milan, is privatised, Commerzbank acquires a stake of almost 3%.
    Agreement signed to acquire stake in Bank Rozwoju Eksportu (BRE) in Warsaw.
  • Commerzbank Europe (Ireland) in Dublin and Commerz (East Asia) Ltd., Hong Kong, founded.
  • Branch opened in Shanghai.
1995
  • Direct banking launched via Commerzbank subsidiary comdirect bank GmbH in Quickborn near Hamburg.
  • Commerz Immobilien GmbH and CommerzLeasing GmbH in Düsseldorf merged to form CommerzLeasing und Immobilien GmbH.
  • Acquisition of UK Jupiter Tyndall Group PLC.
  • Stake acquired in Martingale Asset Management LP, Boston.
  • Commerzbank Asset Management Asia (Limited) established in Singapore as a subsidiary of Commerz International Capital Management GmbH.
  • Branches opened in Johannesburg and Mumbai.
1996
  • Nominal value of Commerzbank shares converted to DM5.
  • Acquisition of 51% stake in Eurocorp International, Budapest, which is renamed EurocorpCommerz.
  • Branch opened in Labuan (Malaysia).
1997
  • Official opening of new headquarters building in Frankfurt am Main in May.
    Start of online banking.
  • Commerzbank opens its first Commerzbank Shop in a department store in Dortmund-Aplerbeck.
  • Commerz Financial Products (CFP) integrated into Commerzbank AG.
  • Subsidiary Commerzbank Belgium S.A.N.V. established in Brussels.
  • Commerzbank acquires a 10% stake in Banque Marocaine du Commerce Extérieur (BMCE), Casablanca.
  • Acquisition of Montgomery Asset Management in San Francisco.
1998
  • Number of customers rises to over 4 million.
  • Leading German banks establish Cash Group, permitting customers to withdraw money from any ATM within the group free of charge.
  • Cooperation and holding agreement with Assicurazioni Generali S.p.A., Trieste, resulting in close links in Germany with the Aachener-Münchener group and Badenia Bausparkasse AG.
  • Commerzbank International (Ireland) established in Dublin.
  • Branches opened in Brno and Milan.
  • 'Haus der Commerzbank' opened at Pariser Platz in Berlin.
  • Group accounts drawn up in accordance with International Accounting Standards (IAS).
  • Conversion from nominal value shares to no-par shares.
1999
  • Commerz Equity Investments Ltd. established in London and Erste Europäische Pfand- und Kommunalkreditbank AG, Luxembourg.
  • Commerzbank (Eurasija) SAO starts operations in Moscow.
  • Commerz NetBusiness AG established in Frankfurt am Main and pdv.com Beratungs-GmbH in Bremen.
  • Equity capital converted to euros.
2000
  • Volksfürsorge insurance products sold by the bank.
  • Shares of comdirect bank AG listed on stock exchange.
  • Acquires stake in Micro Enterprise Bank, Kosovo, along with the World Bank and the Reconstruction Loan Corporation.
  • Investors' group CoBRA Beteiligungsgesellschaft mbH holds 17% stake in Commerzbank for a time.
  • Talks on merger between Commerzbank and Dresdner Bank abandoned.
2001
  • Group has six million customers.
  • New trading centre opened in Frankfurt am Main.
  • Commerzbank recommends an outsider fund as a buy, taking a leading role among the German big banks in establishing an open architecture.
  • Commerz Asset Management Holding GmbH included in group accounts for the first time.
  • Commerz International Capital Management GmbH (CICM) integrated into Commerzbank Investment Management GmbH (Commerzinvest).
  • The holding Commerz Grundbesitzgesellschaft mbH established in Wiesbaden (CGG).
  • Commerz Grundbesitz-Spezialfondsgesellschaft mbH (CGS), a CGG company, launches real-estate funds for institutional investors.
  • European Bank for Fund Services GmbH starts operations as a platform for handling fund management.
  • All Asian asset-management activites combined under Commerz Asset Management Asia Pacific Pte Ltd. in Singapore.
  • Group accounts drawn up for the first time in accordance with international accounting standard IAS 39.
2002
  • New slogan 'Ideas ahead' introduced.
  • Board of directors and supervisory board introduce Commerzbank's Corporate Governance Code.
  • Asset management activities combined in COMINVEST Asset Management GmbH, Frankfurt am Main.
  • The Internet SME 'companydirect' and the big corporate portal 'companyworld' are launched.
  • Leading banks' mortgage bank stakes merged to form Eurohypo AG, Frankfurt am Main.
2003
  • Commerzbank revaluates in the autumn, writing off securities and holdings to the value of Euro 2.3bn, and increases the bank's capital.
  • Mezzanine capital for SMEs campaign launched.
  • Branch opened in Bratislava.
2004
  • Board of directors and works council agree on new bank pension scheme.
  • Commerzbank acquires branch network of SchmidtBank AG in Hof.
2005
  • With the takeover of Eurohypo AG, Eschborn, Commerzbank becomes second-largest German credit institution.
  • Group has more than eight million customers.
  • The famous Frankfurt stadium bears now the name Commerzbank-Arena - a commitment to Germany as a business location and Frankfurt, its financial centre.
2006
  • The new segment Commercial Real Estates encompasses commercial real-estate business, public finance and Group Treasury.
  • CommerzFactoring GmbH starts operations in Mainz.
  • Representative office opened in Ho Chi Minh City (Vietnam).
2007
  • The Commerz Grundbesitz group and CommerzLeasing und Immobilien AG are merged to form Commerz Real AG.
  • Branch in Dubai.
  • Commerzbank increased its holding in Hypothekenbank in Essen AG from 51% to 100%.
  • Acquisition of a majority interest in the Ukrainian Bank Forum.
2008
  • Commerzbank announces in August that it is taking over Dresdner Bank in two stages.
  • As a result of the world-wide deep financial market crisis, Commerzbank and the Special Fund Financial Market Stabilization (SoFFin) agree in December that the Special Fund will provide a silent participation in the amount of EUR 8.2 billion. In addition, SoFFin grants the Commerzbank Group a guarantee for debenture bonds for up to EUR 15 billion.
  • For the first time Commerzbank issues Exchange Traded Funds (ETFs) under the new brand “ComStage”.
  • Hypothekenbank AG in Essen (Essen Hyp) and Eurohypo AG are combined.
  • Bundling of activities in Central and Eastern Europe in an individual Eastern European holding.
2009
  • The persistent financial market crisis increases the requirements for banks’ capital resources. In January Commerzbank therefore decides to draw on additional equity in the amount of EUR 10 billion from SoFFin. After the transaction, the Federal Government holds 25% plus one share in Commerzbank.
  • The merger of Dresdner Bank AG with Commerzbank AG is entered in the commercial register on May 11.
  • Within the framework of the takeover of Dresdner Bank the cominvest Group is sold to Allianz.
  • Commerzbank is the first large bank to set up a customer advisory council.
  • Commerzbank opens its third Chinese branch in Tianjin.
  • Against the background of the expenditure for the integration and the still extremely difficult market conditions, Commerzbank closes the business year with a negative operating result of EUR 2.27 billion.
2010
  • At the beginning of the year Commerzbank combines its foundations with those of the former Dresdner Bank in a Foundation Centre.
  • The fourth Chinese branch is opened in Peking.
  • Commerzbank strengthens the rights of private customers and fixes important customer rights in a customer charter.
  • The equity fund initiated by KfW Bankengruppe and Commerzbank aims to achieve a sustainable equity reinforcement of small to medium-sized enterprises.
  • "Germany is turning yellow": in June the changeover to the new word and figurative mark begins. The new logo – the three-dimensional yellow ribbon – develops the figurative mark of Dresdner Bank further. This is backed up by the new brand promise “Achieving more together”.
  • Commerzbank clearly passes the stress test of the European Banking Supervisors.
  • One year earlier than expected, Commerzbank returns to profitability. The consolidated result amounts to EUR 1.4 billion.
2011
  • At the end of April Commerzbank concludes the IT integration of Dresdner Bank – after less than 1000 days. The IT systems of Commerzbank now process the data of 11 million customers.
  • Commerzbank repays EUR 14.3 billion of SoFFin’s silent participation totalling EUR 16.2 billion.
  • Announcement of the integration of Deutsche Schiffsbank.
  • The second stress test of the European Banking Supervisors, published in December, sees capital needs of EUR 5.3 billion. Commerzbank immediately adopts measures to ensure that the required corporate actions will be implemented by the end of June 2012.
2012
  • Branch opened in Zurich in January to step up business activities with corporate customers in Switzerland.
  • Commerzbank increased its share capital by seven percent in March. The Financial Market Stabilisation Fund (SoFFin) subsequently converted a portion of its silent participations into shares in order to maintain its stake in Commerzbank of 25% plus 1 share. SoFFin’s remaining silent participation in Commerzbank is reduced to around €1.63bn.
  • At the end of June 2012, the Board of Managing Directors decides to fully wind down over time all activities in commercial real estate and ship financing.
  • Eurohypo AG was officially renamed “Hypothekenbank Frankfurt AG” on 31 August.
  • In early November, Commerzbank introduces its strategic agenda for the period to 2016. The bank will rigorously orientate its business model towards the needs of the real economy. The Private Customer unit will be realigned to a modern multi-channel bank.
  • Commerzbank also redesigns its international brand image. The new claim “The bank at your side”, introduced in autumn, underlines Commerzbank’s approach as a fair and competent bank which focuses rigorously on the needs of its customers.
  • The shares in the Russian Promsvyazbank and the Ukrainian Bank Forum will be sold in the course of 2012.
2013
  • Since January 2013, all around 1,300 Commerzbank buildings in Germany have only been operated with green electricity. In addition, Commerzbank is listed for the first time on Bloomberg’s rankings of the World’s Top 20 Green Banks in 2013.
  • Commerzbank is the first German bank launching an innovative new security process, photoTAN, in online banking.
  • On 24 April 2013, Commerzbank implements a reverse stock split through the merger of shares in a 10:1 ratio as agreed by the Annual General Meeting. In all, Commerzbank issues 555,555,556 new shares. During the subscription period, around €2.5bn (gross) is raised as planned. This sum is used to repay the SoFFin silent participations of around €1.6bn and the Allianz silent participation of €750m. As a result, SoFFin reduces its stake in the Bank from 25% to about 17%.
  • Commerzbank and employee representative committees achieve reconciliation of interests in
    respect of eliminating around 5,200 full-time posts by 2016.
  • In December, Commerzbank will open a pilot branch in Berlin on Uhlandstrasse with the first video cup in Germany and a lounge with information services via tablet. Opening hours are extended to 57.5 hours per week. New credit cards and credit cards can carried by customers immediately after a short period of time.
  • The sale of the “Depotbank” business agreed between Commerzbank and BNP Paribas in mid-July is contractually closed on 31 October 2013. The “Depotbank” business offers services for investment companies and institutional investors.
  • Merger of the previously independent BRE Bank Group brands to new mbank. Poland is Commerzbank’s second core market.
2014
  • In March and April, Commerzbank opens its first two flagship branches in Stuttgart and Berlin.
  • Cycle to work - as one of the first companies Commerzbank offers its employees the opportunity to use pedelecs and other e-bikes within a tax-optimized leasing model. Since 1 September, 50 company bikes at five locations in Frankfurt are freely available for Commerzbank employees.
  • Commerzbank is active as Joint Bookrunner on Kreditanstalt für Wiederaufbau’s (KfW) CNY 1 billion 2-year bond first listed on the regulated market of the Frankfurt Stock Exchange.
  • Commerzbank signs an agreement with Bank of China in Frankfurt regarding the direct settlement of renminbi payments in the financial hub Frankfurt.
2015
  • In February, Commerzbank opens a representative office in Ivory Coast (Côte d'Ivoire).
  • Commerzbank successfully completed its capital increase in April; the CET1 capital ratio, if Basel 3 is fully applied, increases to 10.2% after the transaction.
  • Commerzbank is the first bank in Germany to offer an app for a digital account transfer within a few minutes from October.
  • Commerzbank sells its Luxembourg subsidiary Commerzbank International S.A. Luxembourg ("Cisal") to Julius Bär.
  • Since the beginning of the year, Commerzbank has been operating completely climate-neutral. The bank will be listed in the renowned Climate Disclosure Leadership Index (CDLI) from November.
2016
  • Commerzbank is building its subsidiary “Commerzbank Brasil S.A. in São Paulo - Banco Multiplo". The aim is to support German and European companies in Brazil and at the same time to pave their way to Europe for large Latin American companies close to the capital market.
  • Commerzbank launches Main Funders as a digital financing market place. With this peer-to-peer lending platform, customers can present concrete investment projects to potential investors to the SME bank.
  • Commerzbank opens a representative office for capital market operations in Beijing.
  • After a two-year pilot phase, Commerzbank will start launching flagship stores nationwide in Bochum in November. In December, the test of a "city branch" begins as the new branch type in Frankfurt's Ostend.
2017
  • Customers and interested parties can now use Commerzbank's new free building finance app and thus carry out the house and housing purchase with a smartphone.
  • Commerzbank, KfW Bankengruppe and MEAG, the wealth manager of Munich Re and ERGO, jointly act on a money market value paper (Euro Commercial Paper, ECP) issued by KfW and form the transaction in parallel in a Blockchain. The pilot transaction includes a volume of €100,000 for a five-day period.
  • Bank of Montreal (BMO), CaixaBank, Commerzbank and Erste Group have joined an initiative launched by UBS and IBM in 2016 to build a new global trading platform based on Blockchain technology. The platform, called Batavia, is used to finance trading activities of all kinds.
2018
  • In May, Commerzbank trades with thyssenkrupp an FX Forward (forward exchange) and for the first time charts the transaction directly in Blockchain.
  • Commerzbank and Google launch Mobile Pay in Germany in June. Thus, Commerzbank customers can pay for their purchases without contact with the smartphone. Commerzbank is the first major bank in Germany to use Google Pay for this.
  • Commerzbank has been listed in the MDax since September 24. The bank remains on its growth path.
  • Commerzbank and Société Générale signed a purchase agreement for the Equity Markets & Commodities (EMC) division in November. The EMC business includes the issuance and market making of structured trading and investment products, as well as parts of asset management such as the exchange-traded index fund (ETFs) business.
2019
  • Commerzbank announced on April 25 that Commerzbank and Deutsche Bank have decided not to continue talks on a merger between the two institutions.
  • Successful issuance of Commerzbank's first Additional Tier 1 bond. The multi-subscribed bond has a volume of $1 billion and a fixed coupon of 7.0% per year. With the issue issued in July, the Bank is optimizing its capital structure.
  • Commerzbank and Deutsche Börse are conducting legally binding transactions for the first time on the basis of distributed ledger technology. The repo transaction is based on a debt obligation of the KfW Bankengruppe.
  • Commerzbank AG will publish on October 30 the offer document on the voluntary public purchase offer for all outstanding shares of comdirect bank Aktiengesellschaft ("comdirect").
  • In December, Commerzbank introduces Apple Pay as a new mobile payment method for Apple smartphones or smartwatch.
2020
  • Commerzbank is celebrating its 150th anniversary on February 26.

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