April 17, 2012
Commerzbank opens representative office in Bangladesh
● Now represented at more than 60 locations in 52 countries worldwide
● Contact for local banks and German and international companies
Commerzbank AG has opened a representative office in Bangladesh's capital, Dhaka, thus expanding its network on the up-and-coming Indian subcontinent. Commerzbank's strategic target is to increase its presence precisely in global growth markets. The new representative office will be a contact for local banks and for German and international companies in Bangladesh.
Commerzbank holds a traditionally strong market position in import and export business between Germany and Bangladesh. "We are convinced that we will be able to significantly increase our market shares in import and export business with Bangladesh through our local presence," stresses Christof Gabriel Maetze, Member of the Executive Management Board, Head of Financial Institutions at Commerzbank AG.
The basis for the further development is the constant growth of the economy in Bangladesh. For 15 years now the growth rates have been between 5 and 6 per cent per annum and proved robust even in the financial crisis.
Commerzbank has 13 more branches and representative offices in Asia, including Bangkok, Beijing, Hong Kong, Shanghai, Singapore, and Tokyo. The Bank is represented at around 60 locations in 52 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 EUR 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.
The intensive cooperation of the Mittelstandsbank with the Corporates & Markets division, Commerzbank's investment banking section, means that corporate customers receive services and products from one source. In addition to its activity in corporate finance business, with IPOs, mergers and acquisitions, through bonds to structured financing transactions and restructuring measures in Asia, Corporates & Markets is also strongly represented in the areas of equity, fixed income, and currencies.
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 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 sites in 52 countries and serves almost 15 million private clients as well as 1 million business and corporate clients worldwide. In 2011, it posted gross revenues of almost EUR 10 billion with 58,160 employees.
