January 31, 2013
Commerzbank on course for further success in France
- Significant increase in number of French corporate clients
- Cross-border business to see major expansion
Commerzbank has significantly expanded its business with French companies, with the number of clients increasing by some 20 per cent last year. “Thus we are right on target,” said Markus Beumer, the Commerzbank board member responsible for Mittelstand business, when speaking to journalists in Paris on Thursday. “In the meantime, Commerzbank has virtually half of the top 250 companies in France as clients. Naturally we wish to increase this figure,” said Beumer. In addition, Commerzbank intends to intensify its accompanying of German Mittelstand companies in and to France. At present the Bank does business with more than 500 German clients in France. “France is and remains a strategic market for Commerzbank, as the country has very close business ties to our core markets Germany and Poland. Moreover, some competitors have withdrawn from the French market because they no longer wish to invest to such a great degree outside their domestic markets. This is not the case with us – above all at international level Commerzbank intends to step on the gas,” underlined Beumer.
Commerzbank has been represented in France since 1976 – and has been exclusively active in corporate client business. In this respect the Bank is a business partner for French companies which have subsidiaries in Germany. On the other hand, the Bank supports German small- and medium-sized enterprises which are active on the French market. Commerzbank 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, payment transactions, and corporate finance. “No other bank offers its French clients as much support as Commerzbank in the development of the German market,” said David Arlettaz, General Director of Commerzbank in France. “Our goal is that of achieving core bank status with even more French clients,” he added. According to Arlettaz the first successes have already been seen: for example the agreement on a non-bonded loan which Commerzbank recently concluded with the electrical equipment manufacturer SEB, the owner of Krups and Rowenta.
In addition to corporate client business, Commerzbank is involved in the capital market sector in France with French institutional clients. Furthermore, the Bank is the primary dealer for French government bonds (“Spécialiste des Valeurs du Trésor”).
In business with small-and medium-sized enterprises Commerzbank has been the market leader in Germany for many years already. At international level Commerzbank is also strongly represented, with some 60 sites in 52 countries. Furthermore, it has more than 5,000 correspondent relationships worldwide, thus making it an international leader. Commerzbank offers direct access to the capital market and accompanies its clients in their international activities. Through the cooperation between the two segments Mittelstandsbank and Corporates & Markets (CM), the investment banking arm of Commerzbank, clients of Commerzbank are provided with all financial services and products from one source. To this end Corporates & Markets offers access to the capital market, financing solutions, hedging and investment products, as well as advisory.
*****
Press contact:
Martin Halusa: Tel. +49 170 8528638
Kirsten Böddeker: Tel. +49 162 2536829
*****
About Commerzbank
Commerzbank is a leading bank in Germany and Poland. It is also present worldwide in all markets for its customers as a partner to the business world. With the business areas Private Customers, Mittelstandsbank, Corporates & Markets and Central & Eastern Europe, it offers its private and corporate clients as well as institutional investors the banking and capital market services they need. With some 1,200 branches Commerzbank has one of the densest branch networks among German private banks. In total, Commerzbank boasts nearly 15 million private customers, as well as 1 million business and corporate clients. In 2011, it generated revenues of just under €10 billion with some 58,000 employees.
*****
Disclaimer
This release contains statements concerning the expected future business of Commerzbank, efficiency gains and expected synergies, expected growth prospects and other opportunities for an increase in value of the company as well as expected future net income per share, restructuring costs and other financial developments and information. These forward-looking statements are based on the management’s current expectations, estimates and projections. They are subject to a number of assumptions and involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from any future results and developments expressed or implied by such forward-looking statements. Commerzbank has no obligation to periodically update or release any revisions to the forward-looking statements contained in this release to reflect events or circumstances after the date of this release.
