CRZBY

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Commerzbank AG engages in the provision of commercial banking services. It operates through the following business segments: Private and Small-Businesses Customers, Corporate Clients, and Others and Consolidation. The Private and Small-Businesses Customers segment focuses on the universal bank services for private and small-business customers, online securities transactions, and asset management. The Corporate Clients segment includes credit products and financing solutions for mid-size corporate clients, international corporations, and financial institutions. The Others and Consolidation segment contains the income and expenses which are not attributable to the business segments. The company was founded on February 26, 1870 and is headquartered in Frankfurt, Germany.

Commerzbank has recently presented a new strategy to overhaul its business. Like previous plans, it is largely focused on cost cutting to improve its structural profitability.

Commerzbank: Despite New Business Plan, Avoid This German Bank

The "selective perception" currently seen in the oil market is typical of markets in phases of excess, Commerzbank analysts said.

Need to Know: Why surging oil and copper prices are ‘completely detached from reality', Commerzbank says

A month into his new role and a day after announcing an aggressive revamp strategy, Commerzbank's new CEO Manfred Knof is moving around the senior leadership team and planning role reductions, Bloomberg reported on Friday (Feb. 12). Germany's second-largest bank is planning to cut jobs directly below the management board, according to an internal memo […]

Commerzbank CEO Shakes Up C-Suite In His First Month

Commerzbank AG (CRZBF) Q4 2020 Results - Earnings Call Transcript

Germany's Commerzbank said on Thursday its net loss deepened to $3.3 billion in the fourth quarter, as the lender undergoes a major restructuring and deals with the fallout of the COVID-19 pandemic.

Commerzbank posts $3.3 billion fourth-quarter loss amid major restructuring

Commerzbank's new chief executive Manfred Knof on Wednesday finalized plans to cut 10,000 jobs and close hundreds of branches, a radical overhaul for Germany's No. 2 bank that had eluded his predecessor.

Commerzbank's new CEO finalizes plans to cut 10,000 jobs

A top manager at Commerzbank told German lawmakers on Thursday the bank was a victim of fraud surrounding the collapsed payments company Wirecard, as he laid out how the lender was deceived by executives and auditors.

Commerzbank tells German lawmakers it was a victim of Wirecard fraud

Commerzbank said on Friday it would write off existing goodwill of 1.5 billion euros ($1.84 billion) and also increased its risk provisions related to the coronavirus pandemic.

Commerzbank to write off 1.5 billion euros in goodwill, increases risk provisions

Commerzbank appointed a new board member to oversee the German lender's corporate business on Friday after his predecessor left over differences about the division's future, the bank said on Friday.

Commerzbank reshuffle continues with new head of corporate business

Commerzbank AG (CRZBF) Q3 2020 Results - Earnings Call Transcript

Commerzbank, Germany's second-largest bank, is bracing for widespread bankruptcies among small and mid-sized business customers as the pandemic continues to weigh heavily on the global economy. Facing a second national lockdown in Germany, the bank has significantly upped its loan loss provisions, according to a report in the Financial Times on Thursday (Nov. 5).

Commerzbank Warns Of Pandemic-Related Bankruptcies In 2021

The nomination of Manfred Knof as chief executive of Germany's Commerzbank paves the way for an overhaul that could close hundreds of branches and shrink its foreign operations, though any major changes may still take months to formalise.

Focus shifts to Commerzbank's strategy after CEO named

German lender Commerzbank on Saturday said it had appointed Manfred Konf as its new chief executive, effective Jan. 1.

Commerzbank appoints Manfred Knof as new CEO

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A bombshell report from the International Consortium of Investigative Journalists (ICIJ) reveals how banks allowed trillions of dollars to be laundered despite promises to strengthen controls.

FinCEN Files Sink Bank Stocks

German lender Commerzbank said on Monday that it had strengthened its money laundering controls and reduced its international correspondence banking business.

Commerzbank says has improved money laundering controls

Commerzbank's management shake-up continued on Thursday with the announcement that the board member responsible for private clients, Michael Mandel, would leave the German lender.

Commerzbank board member to exit, continuing management upheaval

Commerzbank has launched an external search for its chief executive, a person with direct knowledge of the matter said on Wednesday, as a leadership vacuum at the German lender continues.

Commerzbank looks externally for CEO: source

Commerzbank said on Wednesday it would drop EY as its auditor from 2022 in the wake of the Wirecard accounting scandal.

Commerzbank to drop EY as auditor from 2022 in wake of Wirecard scandal

Commerzbank AG (CRZBF) Q2 2020 Results - Earnings Call Transcript

Commerzbank's supervisory board is meeting on Wednesday primarily to discuss a leadership vacuum after the sudden dual resignation of the German lender's chief executive and chairman, people with direct knowledge of the matter said.

Commerzbank board meets amid leadership void after top resignations

Commerzbank (CRZBY) has been accused of manipulating the market with Cyprus Popular Bank for more than four years.

Commerzbank (CRZBY) Fined by CySEC for Market Manipulation

Commerzbank's chairman and chief executive stepped down on Friday, bowing to demands from top shareholder Cerberus that the German lender change its strategy to stop a downward spiral in its financial performance.

Commerzbank chairman and CEO bow out to give lender a fresh start

Commerzbank's supervisory board was set to discuss the possibility of a further 7,000 redundancies, in addition to 4,000 job cuts up to 2023 announced last autumn, the business daily Boersenzeitung (BoeZ) said on Tuesday.

Commerzbank considers 7,000 more redundancies: BoeZ

Commerzbank (CRZBY) plans job cuts and branch closures to address shareholders' criticism of ineffective cost-cutting measures.

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