February 07, 2012
Commerzbank opens representative office in Luanda
● Represented at 60 locations in 50 countries worldwide
● Contact for local banks as well as German and international companies
Commerzbank AG has opened a representative office in the Angolan capital of Luanda. Germany's second largest bank had previously been granted a licence to do so by the National Bank of Angola. With the new representative office, Commerzbank is expanding its network of represantative offices in Africa. The Bank continues to see great growth opportunities in Africa and is eager to take advantage of them at an early stage.
The head of the office in Luanda is Martin Hercules. In his many years of working for Commerzbank, he has gathered extensive knowledge of the special economic and cultural characteristics of Brazil, India, and other regions of the world. As the Bank's representative, he will be the contact person for local banks as well as for German and international companies in Angola and bordering countries, e.g. Congo.
"In the past ten years Angola's economy has grown on average at rates of more than 10 per cent. In addition, economic relations between Africa and Europe will continue to develop dynamically. Commerzbank will participate in this growth process", stresses Christof Gabriel Maetze, Global Head of Financial Institutions and Member of the Divisional Board at Commerzbank AG.
The main task of the representative office is to cultivate close contacts with the local government offices and business circles and to advise companies active in Angola, particularly businesses from Germany. With locations in Addis Ababa, Lagos, Johannesburg, Cairo and Tripoli, Commerzbank already has a presence on the African continent. With the opening of its representative office in Luanda Commerzbank is expanding its presence to six locations, thus consolidating its leading position amongst German-speaking banks. The Bank is represented at around 60 locations in 50 countries worldwide. Commerzbank's Financial Institutions division maintains relations with more than 7,000 credit institutions worldwide.
With a customer base of more than 100,000 small and medium-sized enterprises (revenue of more than €2.5 million) and banking relationships with just about all major German companies, Commerzbank regards itself as a strategic partner for corporate customers regionally, nationally in Germany, and internationally on the global markets of Germany's strongly export-oriented economy.
Press contact:
Martin Halusa Tel. +49 69 136-85331
Kirsten Böddeker Tel. +49 69 136-85466
*****
About Commerzbank
Commerzbank is a leading bank for private and corporate customers in Germany. With the segments Private Customers, Mittelstandsbank, Corporates & Markets, Central & Eastern Europe as well as Asset Based Finance, the Bank offers its customers an attractive product portfolio and is in particular a strong partner for the export-oriented SME sector in Germany and worldwide. With a future total of some 1,200 branches, Commerzbank has one of the densest networks of branches among German private banks. It has around 60 locations in 50 countries and serves more than 14 million private customers and 1 million business and corporate customers worldwide. In 2010, it posted gross revenues of €12.7 billion with some 59,100 employees.
