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Since taking over Eurohypo, Europe’s largest institution specializing in financing real-estate and public-sector projects, on March 31, 2006, Commerzbank has been Germany’s second-largest bank and one of the leading banks in Europe. It sees itself as an efficient provider of financial services above all for private customers and small to medium-sized companies (Mittelstand). At the same time, it serves numerous major corporates and institutions in Europe as well as multinationals worldwide. Its declared aim is to expand its market share in each of these core target groups and to be the best bank for German Mittelstand firms in particular. Commerzbank is unreservedly committed to its home market, Germany, where it maintains a nationwide network of some 800 branches. In corporate business, Western, Central and Eastern Europe also count as core markets. In the US and in Asia, the bank is active in the leading business centres. Sustainability – corporate responsibility Commerzbank recognizes its corporate responsibility and the sustainability of its business. This means, the bank takes into account the economic, ecological and social consequences of its actions. As a ”good citizen”, it is committing itself for society on a local, regional and national level. Transparent leadership and governance are central elements of a sound management at Commerzbank. These corporate values are contributing considerably to the creation of value and to a secure future. That is why corporate responsibility is an essential part of Commerzbank’s corporate culture, its operational banking business and of its internal work routines as well as its decision-making processes. High priority is given to easy access, especially through the virtual branch commerzbanking. Here and in online banking through comdirect bank, Commerzbank has above-average market shares. The bank provides Mittelstand firms, larger corporates and multinationals with access to all its internet-based corporate applications through www.companyworld.de. Commerzbank is directly represented in the key international business and financial centres through subsidiaries, branches and representative offices. In addition, Commerzbank has a network of more than 5,000 bank connections worldwide. The bank’s share capital is widely dispersed among roughly 290,000 shareholders; more than 50% of its capital is held by non-resident investors. Its largest shareholder is the Italian-based insurance group Generali, with 8.6%. Founded 137 years ago Commerzbank was founded as Commerz- und Disconto-Bank in Hamburg in 1870. In 1958, the reorganized Commerzbank AG established its legal seat in Düsseldorf. During the early seventies, it moved its head office to Frankfurt am Main, also transferring its legal seat there in 1990. Broad range of financial services Commerzbank’s activities are focused on the customer. Its operating business is organized in three divisions, which achieve mutual synergy effects:
Retail Banking and Asset Management The Retail Banking and Asset Management division consists of the segments Private and Business Customers and Asset Management. About 5 million Commerzbank retail customers benefit from a nationwide branch network and a broad range of products. The services offered are focused on investing, with an officially certified selection of funds, as well as home loans and old-age provision. These are complemented by free of charge account management, including payments, and the Eurocard and Visa credit cards, permitting Commerzbank customers to use a full range of banking services which meet the demands of modern, sophisticated private customers. At www.commerzbanking.de, a virtual branch is available, offering practically the entire range of a traditional branch office online. Commerzbank’s subsidiary comdirect bank AG, a fullservice bank for private customers, concentrates mainly on securities business. comdirect bank is Germany’s number one online broker. In private banking, Commerzbank has a decentralized structure: 37 outlets represent the largest nationwide presence and consequently the greatest density of advisory services for affluent private clients in Germany. With practically 22,500 clients and assets under management of more than €25bn, Commerzbank is one of Germany’s three leading institutions in private banking. Five offices in Switzerland, Luxembourg, Austria and Singapore round off the international services which it provides. Under its bancassurance strategy, Commerzbank offers customers modern banking, insurance and fund products. In order to respond even better to the growing demand for products to provide for the future, Commerzbank has overhauled its business model for advising customers in the bancassurance and provision areas. For complex issues, specialists at the bank’s Commerz Partner subsidiary are available. The cominvest Group concentrates on actively managed securities-based funds for retail and institutional investors, focusing on Germany, and through its ebase subsidiary on servicing and managing custody accounts. Corporate and Investment Banking In its two segments Mittelstand and Corporates & Markets, the Corporate and Investment Banking division looks after business relations with small, medium-sized and large corporate customers worldwide, also assuming responsibility for customer-based market activities. Commerzbank is the only major bank in Germany to have a separate operational segment devoted to Mittelstand business. At 150 of its branches, just over 50,000 small to medium-sized companies with an annual turnover of €2.5m and more are looked after. Throughout Germany, support for roughly 800 larger corporates is concentrated on five specialized larger corporates centres. Highly-qualified corporate relationship managers provide access to the many services offered by Commerzbank. Today, transaction management involves much more than handling payments. Information, cash and liquidity management are just as much a part of it as foreign documentary L/C business and foreign-exchange transactions. Commerzbank is also a market leader in electronic banking. Digital signatures as well as certificates for internet-based applications are available. In addition, Commerzbank offers payment systems for the virtual world and treasury management systems. Commerzbank’s investment-banking activities are concentrated in the Corporates & Markets segment and in addition to Corporate Finance, Markets and Sales, include the services provided by Relationship Management for multinationals and selected larger corporates. The bundling of these areas under a single roof ensures that our clients receive optimal all-round support. A key factor in our success is our great experience in structuring and trading in innovative products as well as in offering specially tailored products and services to the individual client segments. Commercial Real Estate, Public Finance and Treasury Through the acquisition of Eurohypo, Commerzbank has become Germany’s number one in the financing of private and commercial real estate. The broader customer base, the better range of products and great crossselling potential all strengthen the Group’s position. Network of outlets abroad Commerzbank’s international activities are geared to institutional clients and companies. In some locations – above all in Luxembourg and Switzerland – international private-banking facilities also exist for wealthy private customers. The bank is involved in the financing of 16% of Germany’s external trade and has, therefore, a much higher-than average market share. It has a direct presence in more than 40 countries. In the nineties, the bank primarily expanded its presence in Central and Eastern Europe. In order to complement its operational outlets in Moscow, Bratislava, Budapest, Prague and Brno, it maintains representative offices in Almaty, Belgrade, Bucharest, Kiev, Minsk, Moscow, Novosibirsk, Tashkent and Zagreb. In Poland, it is active through BRE Bank, in which it holds a stake of around 70%. In South-East Europe, Commerzbank has strengthened its position through participation in local ProCredit banks. In addition to contributing expertise and experience, Commerzbank, as the commercial partner of these institutions, also handles international payments and foreign commercial business. In North America, Commerzbank’s branches in New York, Atlanta, Chicago and Los Angeles handle commercial-banking business. In Latin America, North Africa and the Near and Middle East, Commerzbank primarily maintains representative offices. Asian activities are bundled in the form of Commerzbank Asia-Pacific in Singapore. |
