Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

Commerzbank mulls branch closures as part of broader strategy review

Published 08/21/2019, 09:40 AM
Updated 08/21/2019, 09:46 AM
Commerzbank mulls branch closures as part of broader strategy review

FRANKFURT (Reuters) - German lender Commerzbank (DE:CBKG) is considering closing some bank branches as it figures out a way forward after its talks to merge with rival Deutsche Bank (DE:DBKGn) collapsed earlier this year, people familiar with the matter said on Wednesday.

The Frankfurt-based bank, which has maintained a broad network of branches as competitors retrenched to rely more on internet banking, is studying the closure of at least 100 or 200 of its 1,000 branches, the people said.

The Frankfurt-based bank is weighing the closures as part of a broader strategy review. The results are expected by October at the latest.

Commerzbank declined to comment.

Handelsblatt first reported the news.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.