Commerzbank AG (CBKG.DE)
* ASSUMES INSTALMENT LOAN PORTFOLIO OF APPROXIMATELY € 3.5 BN – “COMMERZ FINANZ GMBH” JOINT VENTURE DISSOLVED AS OF 18.08 2017 Source text - http://bit.ly/2uXkmCd Further company coverage: (Gdynia Newsroom)
FRANKFURT The German government will consider the sale of its 15.6 percent stake in Commerzbank following federal elections in September, German weekly WirtschaftsWoche reported on Friday, citing unnamed sources.
* Commerzbank recently welcomed Cerberus as stakeholder (Updates with background)
FRANKFURT, Aug 4 The German government will consider the sale of its 15.6 percent stake in Commerzbank following federal elections in September, German weekly WirtschaftsWoche reported on Friday, citing unnamed sources.
(The following statement was released by the rating agency) LONDON, August 03 (Fitch) Commerzbank's AG's (CBK; BBB+/Stable) reported pre-tax loss of EUR624 million in 2Q17 reflects the full booking of restructuring charges of EUR807 million for staff reductions in 2Q17. The loss also underlines challenges in improving the bank's revenue growth and lowering its cost base, Fitch Ratings says. Execution of CBK's strategic transformation is on track, but front-loaded costs and platform investments i
* Revenues down 2.3 pct on weak demand from corporate clients
* CFO says no plans "at the moment" to move jobs or assets from London to Frankfurt due to Brexit
* CFO says sees stable underlying revenue this year versus last year Further company coverage:
FRANKFURT, Aug 2 Commerzbank swung to a net loss in the second quarter amid weak markets and after booking job-related restructuring charges of about 807 million euros.
FRANKFURT Commerzbank said on Wednesday that U.S. buyout fund Cerberus has built a stake controlling 5.01 percent of the German bank's voting rights, as of July 25.