October 25, 2012
Commerzbank intends to considerably grow corporate business in the Netherlands
- Number of Dutch customers to be doubled
- Cross-border business to see major expansion
Commerzbank intends to considerably increase its market share with Dutch corporate clients. On the one hand the customers of Commerzbank are German companies with a subsidiary in the Netherlands, on theother hand they are Dutch and international companies with subsidiaries in Germany and Poland, the second domestic market of Commerzbank. Currently, the Bank has some 45 Dutch multinational companies with subsidiaries in Germany as clients. "We intend to double this figure through to 2017," said Country Manager Dirk Dreiskaemper at a press conference in Amsterdam. Along with its intention to increase its cross border business, the Bank also plans to increase the number of clients from the current figure of 600 German companies with a plant or branch in the Netherlands by 25 per cent. Germany is the most important trading partner for the Netherlands. In return the Netherlands is the second most important trading partner for Germany, after France, whereby the most imports originate from the Netherlands.
Commerzbank has for many years been the market leader in Germany for business with small-and mediumsized companies, following the integration of the former Dresdner Bank in 2011 is represented in 52 countries with some 60 sites. Worldwide it has more than 7,000 correspondent relationships, and is thus an international leader. The merger here in the Netherlands was also a major step towards the internationalisation of our corporate customer business. We are now able to offer a range of products and services in corporate and investment banking," underlined Dreiskaemper. "The objective of Commerzbank in the Netherlands is to achieve core bank status with Dutch corporate clients. We are committed to becoming the number one among the international banks for major Dutch companies with ties to Germany and those doing cross-border business."
Commerzbank has been present in the Dutch market for nearly 40 years - exclusively in corporate customer business and has gradually expanded its range of offerings since its creation. Its business model is based on the traditional business relationship to clients through loans, liquidity control and payment transactions. Furthermore, Commerzbank offers companies direct access to the capital market and accompanies them in their international activities. "In the current market environment it is key for our clients to have optionality when it comes to financing instruments and to be able to tap potential market windows, in this respect Commerzbank is a natural partner," says Graham Lofts, Head of International Loans Origination, responsible at Commerzbank responsible for clients outside Germany in syndicated loans business.
Through the cooperation between the two segments Mittelstandsbank and Corporates & Markets (C&M), theinvestment banking arm of Commerzbank, clients have a one-stop shop for all financial services and products. Corporates & Markets can assist clients with access to the capital markets, financing solutions, hedging and investment products along with advisory services. C&M also supports its clients with capital measures (equity, debt and hybrid instruments) handling the placement of the related securities and secondary market trading, mergers and acquisitions, as well as hedging instruments and investment strategies across all asset classes.
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Press contact:
Martin Halusa: Tel. +49 170 8528638
Kirsten Böddeker: Tel. +49 162 2536829
Sandra Fohlmeister Tel. +49 69 136 44588
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About Commerzbank
Commerzbank is a leading bank for private and corporate customers in Germany. With the segments Private Customers, Mittelstandsbank, Corporates & Markets as well as Central & Eastern Europe 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.
